I read an interesting article on Zerohedge about German gold reserves being held at Bank of England and the Federal Reserve Bank in New York.
Bundesbank's Official Statement On Where It's Gold Is (And Isn't) | ZeroHedge
It appears that London and New York are the locations that account for the majority of German gold according to Zerohedge.
76% of Germany's gold reserves are held in England and USA respectively.
Do the German authorities actually get to physically audit their holdings of gold in locations outside of Germany?
If not, why not?
And the Telegraph suggests that Germany withdrew 940 ton of their gold from London to Germany in 2000 and 2001.
Bundesbank slashed London gold holdings in mystery move - Telegraph
Why would any country deposit their gold reserves abroad anyhow?