The Bank of England was founded in 1694 and is now home to some of the largest amounts of gold in the world. This article takes a rare look behind the scenes.
After the New York Federal Reserve, The Bank of England is the second-largest keeper of gold in the world and contains 400,000 bars of gold. It has now recently been estimated that there is approximately £194 billion worth of gold inside, but not all of this belongs to the UK.
In fact, the UK actually only owns 310.3 tonnes of gold itself, valued at over £10 billion. Central banks have been buying up gold globally, and a lot of it is stored behind the vault door at the Bank of England. This is because London is the global centre for gold trading and having it based here, provides other central banks with access to the liquidity of the London gold market. It is also pretty impenetrable, so there’s no chance any of it will go missing.
They hardly ever let anyone in to film, but the BBC gets a glimpse inside.
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