By Cecilia Jamasmie
MINING.com
Jens Weidmann, president of the Deutsche Bundesbank, said Germany brought back nearly 37 tonnes of gold from its reserves in New York and Paris this year and that the final goal is to store half the national reserves of the precious metal, or about 3,400 tons, in its own vaults by 2020.
In an interview with the Bild newspaper (in German), the executive said the bank got back an estimated US$1.5 billion in gold, as part of a plan unveiled in January to increase the reserves held in Frankfurt. By 2020, it wants to have 700 tons back from the US and France.
Weidmann also said the decision had nothing to do with how safe or not are the American and French vaults.