Tuesday, April 21, 2015

Russia Returns to Gold With Major Purchases

Vladimir Putin must be a gold bug.

Russia increased foreign reserves of bullion to 39.8 million ounces, or about 1,238 metric tons, as of April 1, compared with 38.8 million ounces a month earlier, the central bank is reporting on its website.

The 30-ton purchase was the most since last September.

Russia has more than tripled its gold hoard since 2005.  It increased bullion reserves even as international sanctions over the Ukrainian conflict and a plunge in oil prices led to a collapse in the ruble.


1 comment:

  1. One reason the neocons hate Russia is because Vladimir Putin has outwitted them at every turn, and they have a sense of foreboding that Nikita Khrushchev's statement "We will bury you" was over 50 years ahead of it's time.