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Bank vaults emptied

Analysts who would like to see more transparency in physical gold holdings say the Bank of England has seen a net outflow of more than 1,500 tonnes of gold between early 2013 and 2016.

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Bank of England gold vault

The bank held just over 5,500 tonnes of gold bars in its vaults in January 2011, with the amount peaking in February 2013 at 6,250t, according to analysis by a Singapore bullion trader.