Bundesbank displays gold bars in its possession
Germany’s central bank Deutsche Bundesbank is holding an exhibition at the Money Museum of gold bars in its possession. Germany has the world’s secondlargest gold reserves, but no one has seen this since the Cold War. The central bank has put at least 8 bars on display. An official of the central bank said this is being done to show citizens that the gold bars are here, to show transparency. The exhibition, “Gold. Treasures at the Deutsche Bundesbank”, runs until September. The treasuries of the central bank, located in New York, London and Paris had around 3400 tonnes of gold worth 117 billion euros ($187 billion) in store and the gold had been stored in these treasuries in order to keep the stocks safe from a possible Soviet attack. However, the central bank has been transporting the gold ingots to its own treasuries since 2013 and had completed the repatriation in late 2017. There are still 1200 tonnes held in New York and around 430 tonnes in London.