Market News
Trump spurs questions about safety of Germany's gold in New York - REUTERS
By Francesco Canepa, Maria Martinez and John O'Donnell
Summary
- Germany has stored gold in New York since Cold War
- Lawmakers worry about Trump's reliability
- Any move could hurt relations with Fed
FRANKFURT/BERLIN, May 30 (Reuters) - The safety of Germany's gold reserves held overseas and in New York in particular, until recently mainly a talking point for the country's far-right party and gold bugs, is becoming a matter of public debate with Donald Trump back in the White House.
The Bundesbank, Germany's central bank, has the world's second largest stock of gold at 3,352 tonnes. One-third of it is stored at the Federal Reserve Bank of New York for reasons dating back to the Cold War and the monetary system created in the wake of World War Two.
