Is Gold Repatriation A Trend? Turkey Gets Its Reserves Back From The U.S.

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cosmetal

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From Kitco.com:

http://www.kitco.com/news/2018-04-20/Is-Gold-Repatriation-A-Trend-Now-Turkey-Wants-Its-Gold-Back-From-The-U-S.html?utm_source=kitco&utm_medium=email&utm_campaign=kitco&utm_content=So+Much+Can+Change+In+a+Week

"Also driving Turkey’s intentions is fear that all gold ETFs are “oversubscribed,” said Todd 'Bubba' Horwitz, chief market strategist at BubbaTrading.com.

“There is fear that you won’t have enough gold to cover the amount of all traded ETFs. Governments want to hold physical gold in their own vaults. A lot of these countries don’t really trust the entire system either,” said Horwitz."


Also,

"The gold repatriation trend was kicked off by Germany last summer when the central bank completed the move of 674 metric tons from the vaults of the Federal Reserve Bank of New York and the Banque de France three years ahead of schedule. And prior to that, Germany had repatriated 940 tons of gold from the Bank of England.

Hungary followed in March when the country’s central bank said that it is planning to bring back 100,000 ounces of gold back from London. The reason behind the decision was to strengthen market confidence, according to local media reports."
 
If we as home refiners know that there is not anywhere near enough gold in the world to cover even a 1/10 of the paper gold then surely governments have also worked it out :shock:
 
nickvc said:
If we as home refiners know that there is not anywhere near enough gold in the world to cover even a 1/10 of the paper gold then surely governments have also worked it out :shock:

It really comes down to which one really cares, government or individuals. There is a term that goes "perception is reality". That perception bubble is ready burst, based on reality.
 
I agree with the statement from the Kitco’s article. Turkey probably sends a message that it wants more independence. Overall gold is „real” and not some virtual entity :G . Governments know this. I am wondering which country will be next and how far will this trend go. For sure we’ll hear more about it anytime soon.
 
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