Owned by the State
When ownership of gold reserves resides with the associated sovereign state, the central bank or monetary authority is officially appointed to act on behalf of the state in holding and managing that state’s gold reserves.
For example, the Deutsche Bundesbank has stated that:
“The Deutsche Bundesbank holds and manages the national foreign reserves of the Federal Republic of Germany”Likewise, as per its Statutes, the Banque de France highlights that it:
“shall hold and manage the State's gold and currency reserves and shall enter them on the asset side of its balance sheet pursuant to the terms and conditions of an agreement it enters into with the State.”The United Kingdom’s gold reserves are held in the Exchange Equalisation Account (EEA). The EEA is a “government... Continue Reading