Hungary undertakes gold repatriation

Hungary has announced the relocation of three tonnes of gold from London to Budapest. The Hungarian central bank said the repatriation of the gold, worth $130 million would “strengthen market confidence towards Hungary”.

Presumably the European state is now saving on storage costs but it has not divulged any savings or the method of the repatriation. Gold only makes up approximately 0.5% of the Hungarian national reserves.

Germany undertook a similar repatriation last year.

Link to this article: : http://www.goldmadesimplenews.com/gold/hungary-undertakes-gold-repatriation-13398/

Posted by on Mar 15 2018. Filed under Gold News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

The Atlas Pulse Report