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July 7, 2015

Texas wants its gold back but storage will be pricey

  • The new Texas Bullion Depository exists in name but not reality. It would hold 5,600 gold bars now in a Manhattan vault.
    • By WILL WEISSERT
    Associated Press

    AUSTIN, Texas — Forget Fort Knox or the Federal Reserve. Texas has decided to start keeping its gold holdings within in its own borders. But what makes sense politically in such a sovereignty-loving place is creating a logistical conundrum.

    Texas is the only state that owns an actual stockpile of gold, according to public sector and financial industry experts — not just gold futures or investment positions, but approximately 5,600 gold bars worth around $650 million.


     
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