Data Source: World Gold Council

 

In a development that created huge flutters in the gold market, German central bank is pulling some of its gold reserves out of the foreign banks. However, it will do it slowly, relocating 300 tonnes of gold from New York to Frankfurt and an additional 374 tonnes from Paris to Frankfurt by 2020. This amounts to around 1/5th of its official gold holdings as identified by the World Gold Council. As today's chart shows, in US$ terms, Germany's gold holdings stood at a little over US$ 200 bn. While India is way behind at US$ 33 bn, unofficially, it is easily one of the largest holders of gold.