After the latest European country (Austria) announced it would ship some of its gold back from the Bank of England to Vienna, New York likely thought it was safe as a major gold storage center.
Distrust in the countries and companies that currently store gold have led Austria, Germany, the Netherlands, Russia, and Venezuela to move some of their gold stored in New York, London, and Paris back home.
China never bothered to store its gold abroad and has also moved to take control of pricing.
