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Bundesbank Disagrees With Audit Court’s View on Gold Reserves

The Bundesbank disagrees with Germany’s Audit Court that the central bank should take stock of its gold holdings outside Germany.

“The Bundesbank and the Federal Court of Auditors have different opinions” on the matter, the Frankfurt-based Bundesbank said in a statement posted on its website today. The foreign central banks that hold gold on the Bundesbank’s behalf verify the holdings annually and “there are no doubts about the integrity, reputation and safety of these foreign depositories,” it said.