Poland has repatriated 100 tons of gold from the Bank of England’s deposit in London, the Polish National Bank announced earlier this month.
The international logistics division of G4S has been involved in organizing the transport. The company said the gold movements were meticulously coordinated. The transport required the cooperation of the police, the Bank of England, Narodowy Bank Polski and G4Si.
The operation took place at night and in recent months and totaled eight trips. The gold was transported in a Boeing 737 cargo plane. Gold bars were escorted by police and helicopters. When the gold arrived in Poland, he was transported under total police escort into the coffers of the country’s central bank.
The gold bars transported were London Good Delivery ingots, each weighing 12.5 kg and bearing serial numbers.
“This is one of the largest private gold transactions among banks in the world,” said a G4Si employee who accompanied him. “It involved a huge amount of planning over a short period. We have developed relationships with the police forces, representatives of the two central banks, insurance – it’s $ 5 billion, after all. “
The repatriation of Poland “symbolizes the strength of the country,” said the governor of the Polish central bank, Adam Glapinski.
Precious metals from Poland will now be stored in the central bank treasury, NBP noted.
Glapinski added that more gold would be brought back to Poland if the “reserve situation was favorable”, with at least half of the Polish gold reserves held at home.
Source Kitco
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