Why are European countries moving their gold out of North America?

According to industry surveys by the World Gold Council, the Bank of England remains the most popular vaulting location, but central banks are increasingly diversifying where they store the precious metal.

Over the past four years, central banks have accumulated an average of 1,000 tonnes of gold per year, up significantly from the 500-tonne average over the preceding decade, according to the World Gold Council."Some European central banks moved part of their gold holdings to New York during the Cold War," said research analysts Lina Thomas and Daan Struyven of Goldman Sachs.