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GoldCore Reports Half of Italy’s Gold is Held in New York Fed Vault; Is Repatriation Possible?

by Ronan Manly, Gold Core:

Italy’s central bank, the Banca d’Italia, has recently published an important document detailing the storage locations and composition of the country’s gold reserves. The document confirms that Italy’s gold is held across four vault locations, three of which are outside Italy.

This is a significant announcement given that the Banca d’Italia is the world’s third largest official holder of gold after the U.S. and Germany. Italy officially holds 2,451.8 tonnes of gold, worth more than €72 billion (US$ 100 billion) at current market prices [1].

In the detailed three page report focusing exclusively on its gold reserves (and only published in Italian), the Banca d’Italia reveals that 1,199.4 tonnes, or nearly half the total, is held in the Bank’s own vaults under its Palazzo Koch headquarters on Via Nazionale in Rome, while most of the other half is stored in the Federal Reserve Bank gold vault in New York. The report also states that smaller amounts are stored at the Bank of England in London, and at the vaults of the Swiss National Bank in Bern, Switzerland.

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3 comments to GoldCore Reports Half of Italy’s Gold is Held in New York Fed Vault; Is Repatriation Possible?

  • Mike F.

    Good luck getting that back, Bank of Spaghetti, because its gone to Switzerland and was re-smelted into Kilo .9999 bars and exported to Hong Kong and Singapore to keep the Eastern gold-hungry masses from rioting.

  • J

    You have to be a certifiable numbnut to let other people hold your PM’s in storage…

  • Slvrizgold

    I heard that J. You’d think anyone smart enough to own gold wouldn’t suddenly turn into a douche nozzle and let “financial authorities” keep it for them. It’s as dumb as letting Jimmy Savile babysit children or giving dope to Gary Busey “for safekeeping.” LOL

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