International banks hold paper substitutes for gold. They do not hold bullion or coin. So their gold doesn't really exist.
This scam has been prevalent for 50 years.

International bank regulation have now vetoed the practice.
For tier one reserves (ie asset backed) the Basel III regulations now insist on bullion from January 2024.

There will be (probably) a rush to accumulate gold in specie.
This should push the price significantly up from $1990.
But the Fed hates gold which they can't print.
So they might simply not 'play'.

Moreover the gold reserves they are supposed to hold have seemingly disappeared.
As Germany has discovered when asking for their gold to be repatriated.

All bullish for gold in the long term.
But the paper gold scam has many powerful friends, JDimon to name but one..
But he has sold a very significant slab of shares in his JP Morgan, manipulaters of gold & silver prices for years.

So as ever, hold coin or bullion with no counterparty risk.