Author`s name Dmitry Sudakov

Europe wants its gold back from US

European governments are withdrawing their gold from the Federal Reserve Bank of New York. Despite the fact that golden bars do not play the monetary role, Big Apple is home to tons of precious metal. Today, however, the stock is the minimum in the past 20 years. Germany was the first country to request the withdrawal of its gold from the USA. The Netherlands and Austria followed.
Anton Shabanov, independent economic expert: "The assets are being withdrawn to stabilize negative factors in the global economy.The assets will gain more liquidity in the market, because supplies will increase. However, the cost of gold may go down because of that, because the state needs not only to withdraw these assets, but to sell them at a good price as well."