German Central Bank moves 54K gold bars from Paris to Frankfurt
German Central Bank has revealed that it has moved 374 metric tons of gold worth more than $15 billion out of vaults in Paris back to Frankfurt over a period of five years.
The central bank also revealed that the final batch of 91 metric tons was moved from Paris back to Frankfurt earlier this year.
The Bundesbank declined to provide details on the means of transfer of gold for security reasons. However, it highly praised the success of the secretive operation.
In a newly released statement, it said, “The bars had been thoroughly and exhaustively tested on arrival in Frankfurt and no irregularities came to light with regard to the authenticity.”
The central bank had been storing 674 tons of gold bars at the Federal Reserve Bank (FRB) in New York and Banque de France in Paris. The plan to return the gold bars to Frankfurt started in 2013.
The lot of nearly 54,000 gold bars, each weighing 27.5lbs with market value of nearly $519,000, will now reside in high-security vaults beneath the central bank's headquarters in Frankfurt.
Ford has recently issued a recall order for 550,000 units of Fusion and Escape that were built from 2013 to 2016 and 2013 to 2014, respectively.
According to reports, Brexit has announced appointment of Matt Hancock as the new health secretary in Brexit reshuffle. This is after the resignation of the previous secretary Mr Boris Johnson.
The Airbnb is eyeing to remain a thorn to the eyes of hoteliers as they are revamping to check rates if these are not that pricey.
Decades of research have shown that regular massages can actually cure pain and immobility almost completely. Unfortunately, most pain sufferers in America cannot afford the cost of this simple pain solution. Thankfully, our team of experts at M
The word ‘accident’ brings along so many negative thoughts with it. Whenever an accident takes place, the family of the victim get into a lot of trouble. Road accidents in India have become quite common these days.
The San Francisco-based ride-hailing company, Uber won a legal bid on Tuesday to restore its operating license in London for next 15-months.