Austria to repatriate third of gold reserves
Central bank plans to move gold out of the UK and into Austria and Switzerland
The National Bank of Austria will repatriate a third of its gold holdings – some 92 tonnes – between now and 2020, it revealed on May 28, at the launch of its latest annual report.
The central bank holds 280 tonnes of gold. At present 224 tonnes (80%) is held in the UK, with the remaining 56 tonnes split between Austria (17%) and Switzerland (3%).
Following a "regular in-house gold strategy and storage policy review", it has decided to keep more of its gold on home soil, an increasingly popular
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