Fast forward a year and the Germans have managed to bring home a paltry 37 tonnes of gold.

And a mere 5 tonnes of that came from the US, the rest from Paris. The Fed holds 45% of the total 3,396 tonnes German gold.

Needless to say this prompted renewed questions whether Germany’s gold still exists in those Manhattan vaults or if it has been melted down, leased or even sold. At the time of the original Bundesbank announcement, there were rumours that Germany wanted their gold back because the Fed refused German officials a viewing of the bullion a couple of months earlier.