Russia Now, Most Likely, Has More Gold Reserves Than Switzerland.

In September, Russia continued its voracious gold buying, reports Smaulgld.

Russia, added 1.2 million ounces of gold to its reserves in September, bringing its reserves to 37 million ounces, or approximately 1.156,00 tons, placing them, most likely, ahead of Switzerland who sold 60% of its gold reserves in the mid 2000’s.

At the average September gold price of $1238 per ounce, Russia’s September gold purchase is worth approximately $1.5 Billion.