Bank’s gold reserves deteriorating
Some of Britain’s gold reserves held in the Bank of England are cracking up because they were poorly made.
The deterioration could temporarily cut the value of the country’s 320-tonne reserve, which is held by the Bank on behalf of the Treasury.
A Freedom of Information request by trade journal Metal Bulletin revealed that the cracks and fissures had appeared in some gold.
The bank is said to be in discussions to establish exactly how much of its hoard is involved, although it is only believed to be a small proportion.
Some of Britain’s gold reserves held in the Bank of England are cracking up because they were poorly made.
The deterioration could temporarily cut the value of the country’s 320-tonne reserve, which is held by the Bank on behalf of the Treasury.
A Freedom of Information request by trade journal Metal Bulletin revealed that the cracks and fissures had appeared in some gold.
The bank is said to be in discussions to establish exactly how much of its hoard is involved, although it is only believed to be a small proportion.