Confidence in America as a safe place to store gold is declining

The perception of the United States as a safe place to store gold reserves is gradually changing. Deutsche Welle* (recognized as a foreign media agent in Russia and an undesirable organization).

Although the Fort Knox complex in Kentucky continues to hold about half of America’s gold reserves, European states have begun to rethink their strategy. Over the past two years, the Netherlands and France have moved their assets out of US storage facilities. The reason for this was “geopolitical instability.”.

Germany and Italy, which have the second and third largest gold reserves in the world, also have calls to take the metal home. Politicians explain this by the unpredictability of the course of the administration of President Donald Trump.

The expert of the British analytical company Oxford Economics Sebastien Tiye noted in an interview with DW* that the direct seizure of European gold by the US authorities remains “extremely unlikely” scenario. However, he acknowledged that concerns about the availability of these assets in the event of an emergency were fair.

Nevertheless, the US, and in particular the Federal Reserve Bank of New York in Manhattan, remains one of the key centers of European gold reserves, including a significant part of German reserves.

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Recognized as a foreign media agent in Russia and an undesirable organization.