The Bank of Finland has announced that over 50% of the countries Gold reserves are held in London. Finland joins a long list of Western countries whose Gold reserves are stored at either New York, London or both. This leads credibility to the claim that Central Banks have been leasing and loaning out its Gold reserves to help surpress gold prices.
The Bank of Finland’s reserves include 49.035 tonnes of gold, valued at a market price of EUR 1,559 million as at 25 October 2013.
The Bank has confirmed the current arrangements for storing the gold held in its reserves. Having received the agreement of the central banks involved, it has decided to publish this information. The gold is stored on a geographically decentralised basis at a number of central banks: 51% is in the United Kingdom (Bank of England), 20% in Sweden (Sveriges Riksbank), 18% in the United States (Federal Reserve Bank of New York), 7% in Switzerland (Schweizerische Nationalbank) and 4% in Finland (Bank of Finland).
Source: Bank of Finland