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Foreigners Rushing to Remove Gold from NY Fed

Last month, foreign nations repatriated 1.35 million ounces of Gold from the New York Fed. The last time that foreign nations repatriated over 1 million ounces of Gold from the New York Fed in a single month was September of 2008, when they repatriated 1.11 million ounces. This was just prior to the financial crisis of October 2008-March 2009.
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Over the last twelve months, foreign nations have repatriated 4 million ounces of Gold from the New York Fed. This is the most during a trailing 12 month period since March 2009 at the peak of the financial crisis.
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