A Datacenter – But for Gold
From the photos, you can see that the gold storage vault of the Portuguese central bank has a very orderly design, with tall racks of bars (maybe 30 rows high) laid out in close proximity to each other to form a number of aisles and corridors. It almost has a datacenter feel to it, except instead of servers and routers, there are gold bars. Commenting on the visit, reporters Sandra Afonso and Marta Grosso from Radio Renascença wrote: : “This Tuesday, on a guided tour, journalists were able for the first time to take photographs of the gold in the Casa Forte de Reserva, located in Carregado. Much gold is stored in these facilities: 13,666 bars, totaling 173 tons. Each bar weighs about 12 pounds. In Carregado, there are still 406 bars that belong to the European Central Bank (ECB), but are in the custody of the Bank of Portugal (BdP). “Interestingly, most of the gold is abroad. We have 186 tonnes in custody at the Bank of England, one of the main gold custody and gold transaction locations. We have a significant part of our gold there: around 49%”, said Hélder Rosalino [Banco de Portugal director]” Interestingly, the Banco de Portugal’s Carregado vault claims to be storing about 5 tonnes of gold which belongs to the European Central Bank (ECB). This is gold that was transferred by the Banco de Portugal to the ECB in 1999 as part of the creation of the Euro when each founding central bank member transferred foreign reserve assets to the ECB, 15% of which had to be in the form of physical gold.“
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