We are talking about national gold reserves, not some household items.
They exist for the reason to liquidate them in case of national emergencies/severe economic crises.
It's easier to liquidate these reserves when they are stored in trading hubs. That could be New York and London, or maybe even Shanghai, if China wasn't a systemic rival.
Storing all of them at "one's place" is a larger risk than splitting it up and storing them in several places, each with a different risk profile.
Well, if WWIII starts they will not be cashing in their gold no matter where it is kept and world financial capitals would be the last places to survive strikes.
They exist for the reason to liquidate them in case of national emergencies/severe economic crises. It's easier to liquidate these reserves when they are stored in trading hubs. That could be New York and London, or maybe even Shanghai, if China wasn't a systemic rival.
Storing all of them at "one's place" is a larger risk than splitting it up and storing them in several places, each with a different risk profile.