For years, Germany has kept most of its gold reserves in foreign cities like Paris and New York. But soon, about half of the gold stored overseas will be back in German vaults.

Germany moved much of its gold out of German banks and into overseas banks during the Cold War. This was done to protect the gold in case the Soviet Union invaded. By the end of the Cold War, nearly all of Germany’s gold was kept in foreign banks.

Some of the gold was returned to German banks years ago. In 2000, over 900 tons of gold were returned from the Bank of England. But in recent years, the demand to move more gold back to Germany has increased. The German public has become more anxious about keeping so much of the country’s gold overseas. Many people in Germany don’t believe the European economy is stable. They think that keeping the gold in Germany could help protect the country if the value of the euro collapses.

In 2013, Bundesbank, the German federal bank, decided to return 674 tons of gold to German banks. They think that by returning the gold to Germany, many Germans will be less worried about the gold.

The bank moved 216 tons of gold from New York and Paris to Frankfurt last year. They only have to move a remaining 91 tons from the Bank of France. Then the transfer will be complete. While the move was originally set to be completed by 2020, Bundesbank is now saying the transfer will be completed this year. According to Bloomberg Markets, the total cost of the moving the gold back to Germany will be about $7.4 million. About half the country’s gold will still be kept overseas in New York and London.

Bundesbank did not give a reason for finishing the project ahead of schedule. Some people believed that Donald Trump’s election and Brexit forced Bundesbank to speed up the transfer. However, Bundesbank denied those claims.

The total value of Germany’s gold reserves, both foreign and domestic, is about $130 billion.

For years, Germany has kept most of its gold reserves in foreign cities like Paris and New York. But soon, about half of the gold Germany kept overseas will be returned to Germany.

Germany moved much of its gold out of German banks and into overseas banks during the Cold War. The gold was kept in other countries to protect it from the Soviet Union. The gold would stay safe in overseas banks. Nearly all of Germany’s gold was kept in foreign banks by the end of the Cold War.

Some of the gold was returned to German banks years ago. Over 900 tons of gold was returned from the Bank of England in 2000. But recently, many people in Germany said they wanted the gold moved back to Germany. The German people are worried about keeping most of their country’s gold overseas. Many people in Germany believe the European economy is at risk. They think the gold should come back to Germany. The gold could save Germany if the value of the euro goes down.

The Bundesbank is the German federal bank. In 2013, they decided to return 674 tons of gold to German banks. Bundesbank thinks that if they return the gold to Germany, many Germans will be less worried.

The bank moved 216 tons of gold from New York and Paris to Frankfurt last year. They only have to move 91 tons from the Bank of France. The gold was supposed to be moved by 2020. Now, Bundesbank is saying the gold will be moved this year. They will finish ahead of schedule.

Bundesbank did not give a reason for finishing ahead of schedule. Some people believed that Donald Trump’s election and Brexit caused Bundesbank to move the gold faster. However, Bundesbank said that was not true.

According to Bloomberg Markets, it will cost Germany about $7.4 million to move the gold back to German banks. About half the country’s gold will still be kept in New York and London banks.

The total value of Germany’s gold reserves, both in Germany and in other countries, is about $130 billion.