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Trump’s Fed Criticism Sparks European Fears Over $245 Billion in US-Stored Gold

Germany and Italy are under pressure to bring home $245 billion worth of gold currently stored in US Federal Reserve vaults.

European politicians and taxpayer groups worry that President Trump’s criticism of the Federal Reserve could threaten their gold’s safety.

Germany has about 1,200 tonnes (one-third of its reserves) in New York, while Italy stores 43% of its gold there.

Critics argue that keeping gold in America under the current political climate poses unnecessary risks to European financial sovereignty.

Original Source: Mining.com

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