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The Bank of England holds approx. 310 tonnes of gold. The reserves serve as insurance against financial collapse. Despite being one of the largest economies, the UK gold reserves are 16th largest in the world where majority is held in the form of 24-carat gold bars. Also, the Bank of England bullion vault holds one of the largest reserves of the yellow metal that are stored by several countries in the bank. The bank acts as the guardian and custodian of the gold on behalf of account holders, only the U.S’s Federal Reserve holds more gold than the BoE.
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