Frankfurt (AFP) – The German central bank or Bundesbank said Monday that it stepped up the repatriation of its gold reserves from overseas storage last year.
“The Bundesbank successfully continued and further stepped up its transfers of gold,” the central bank said in a statement.
“In 2014, 120 tonnes of gold were transferred to Frankfurt from storage locations abroad: 35 tonnes from Paris and 85 tonnes from New York.” Continue reading
Deutsche Bank has launched its second-biggest gold-storage vault in Singapore that can hold up to 200 tonnes of the metal as it looks to capture surging global demand for physical bullion.
“There is a growing interest to buy physical gold for investment purposes,” Mark Smallwood, head of wealth planning at Deutsche Asset & Wealth Management for the Asia-Pacific region, told Reuters in an interview. Continue reading