The second largest stocks In the world is the Germanywith 3,352 tonnes, after the US. They are regarded as a “large anchor of the population trust”, as Bundesbank President Ioakim Nagel says.
However, new developments are causing anxiety in much of the German population, because more than one -third of the country’s gold reserves are stored in the US, which until recently were considered a reliable partner for it.
In view of the trade dispute and the latest tariff measures introduced by the new Trump government, calls for the return of gold to Germany are increasing.
“Bring our gold home,” said Michael Jäger, president of the European Union of Taxpayers, in the Bild newspaper and on ZDF television. The new German government should at least check whether gold is really available, according to Handelsblatt.
Several German politicians agree with these demands, such as CDU politician Marco Wanderwitz, according to the Bild newspaper.
The Bundesbank, on the other hand, reacted quite cool. At the annual press conference in late February, Bundesbank President Mr Nagel stressed that gold was in the treasures of the New York Federal Bank. He had “no doubt that we have a credible partner in the New York Fed to store our stocks in gold”. Many central banks keep their stock there. Therefore, the current discussion does not cause him alert nights.