London Just Shook Up the Ranking of Biggest Gold Stockpiles

The London Bullion Market Association this week lifted the veil on how much gold is stored in vaults in the city, which instantly joined a list of the world’s biggest hoards. The estimated 596,000 bars weigh 7,449 tons -- only the U.S. government and Indian households are thought to account for more. Most London gold is stored in the Bank of England, with the rest in private vaults, including those operated by HSBC Holdings Plc and JPMorgan Chase & Co.

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