Metals Notes

Texas to Repatriate Gold Reserves?

Recently, Texas Governor Greg Abbott approved a law creating the Texas Bullion Depository, the first state-level precious metals depository in the United States. The bill would also allow Texas to repatriate approximately $750 million in gold bullion back into the state, gold allegedly stored in the Federal Reserve’s vaults in Manhattan. The law will go into effect immediately, though it is still unknown exactly where and when the Depository will be built.

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