“We’re doing this to show citizens that the gold bars are here, to show transparency,” Thiele said.
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All that glitters is definitely gold in a new exhibition at Germany's central bank that lifts the veil on the nation's massive reserves of the precious metal, partly to reassure skeptics that the prized ingots are really there.Growing public pressure spurred the Bundesbank to bring half its reserves home, a feat it completed last year through a series of cloak-and-dagger shipments from the Federal Reserve, the Bank of England and the Banque de France.In 2013, the Bundesbank unveiled a plan to bring home half its 270,000 ingots.Today, 1,710 tons of gold are kept in Frankfurt, with just over 1,200 tons remaining in New York and around 430 in London.Bank officials say keeping the rest of the German treasures overseas makes sense as the Fed is home to the No. 1 reserve currency and London is the world's leading gold trading center.Loederbusch said seeing the gold up close was "impressive".
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