Some European Countries Moving Their Gold Supply Out of the U.S.
Several foreign central banks are moving their gold reserves out of the United States -- primarily from the Federal Reserve Bank of New York. But analysts say the transfers are based more on crisis preparedness and risk management than on an abandonment of the U.S. financial system.
TL;DR
- Several foreign central banks are moving gold reserves out of the United States.
- The primary location for these transfers is the Federal Reserve Bank of New York.
- Analysts suggest these actions are driven by crisis preparedness and risk management.
- The movements are not seen as an abandonment of the U.S. financial system.