Russia Surpasses China With Massive Gold Purchases In January

By Louis Cammarosano Russian Central Bank gold reserves rise to 1,857 tons in january, passing People’s Bank of China’s 1,843 ton gold hoard. Russian gold reserves are now the fifth largest in the world. Russia added 600,000 ounce of gold (18.66 tons) to reserves in January. Russia added a record 224 tons of gold to reserves in 2017. Since June 2015, the Central Bank of Russia has added over 576 tons of gold to reserves. Overall Russian reserves rose from $432.742 billion in December to $447.735 in January. Russian holdings of U.S. Treasuries top $100 billion for ninth in a row. Gold reserves worth $80.4 billion constitute 17.95% of overall Russian reserves. Russian Gold Reserves After adding 6,700,000 ounces (208 tonnes) of gold to her reserves in 2015, the Russian Central Bank added 6,400,000 ounces (199 tonnes) in 2016 and another 224 tons (7,202,000 ounces) in 2017. The Central Bank of Russia ended 2016 with 1838.21 tonnes o...

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