Gold bullion recovered from the RMS Niagara which sank off the coast of Whangarei
in June 1940 after striking a German mine. Most of the bullion belonging to the
Bank of England was salvaged in 1941 and was looked after by the Reserve Bank of
How much gold does the Reserve Bank have in its vaults?
None. Most of the gold reserves were divested in the 1960s. The last remaining gold
was sold in 1991.
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