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Austria repatriates 15 tonnes of gold from London

Section: Daily Dispatches

From Reuters
Friday, December 11, 2015

VIENNA, Austria -- Austria has repatriated 15 tonnes of its gold reserves as part of a plan to hold half its stock of the precious metal within the country's borders, the Austrian National Bank said today.

The central bank, which administers Austria's 280 tonnes of gold reserves, said in May that by 2020 50 percent of the reserves would be kept in Austria, 30 percent in London and 20 percent in Switzerland. Most of its stock is now in Britain.

"By the end of November, the Austrian National Bank brought 15 tonnes of its gold back into its own vaults," the bank said in a statement. A spokesman for the central bank said it had begun repatriating the gold from London in October.

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