Central banks are rethinking where they store their gold
The Wall Street Journal reported on June 16 that fewer central banks now store bullion in London and New York.
At a glance
- Fewer central banks now store bullion in London and New York, per the WSJ.
- The Journal attributes the shift to geopolitical concerns and a desire for greater control and access to reserves.
VERDICT — CONFIRMED
Fewer central banks now store their bullion in London and New York, The Wall Street Journal reported on 16 June.
According to the Journal, the shift reflects growing geopolitical concerns and central banks' desire to ensure greater control over, and access to, their reserves. The two cities have long served as the principal custodial centres for official-sector gold, which lends the reported repatriation trend its significance.
The account is the Journal's own reporting. Which institutions are moving metal, in what volumes and to which destinations were not detailed in the material available; the direction of travel described — away from the traditional vaulting centres — rests on the paper's sourcing.
Key facts on file
- Fewer central banks now store bullion in London and New York, per the WSJ.
- The Journal attributes the shift to geopolitical concerns and a desire for greater control and access to reserves.
