The hits keep coming. Add Austria to the list of countries that want their gold back.
Austria's gold repatriation consideration follows news of a possible Belgian gold repatriation, a recent gold repatriation request by France's National Front to the Bank of France and the Dutch repatriation of their gold from the New York Fed last month.
These recent gold repatriation actions follow similar repatriation requests from countries holding gold outside their borders including Germany, Switzerland (pursuant to a populist referendum Save Our Swiss Gold) and Venezuela (repatriation completed).
The recent spate of gold repatriations and requests/considerations to repatriate gold highlight the importance of gold as a reserve asset.