The Central Bank of Russia Adds 500,000 Ounces of Gold To Reserves In April

Russian Gold Reserves April 2016 .

The Central Bank of the Russian Federation added 500,000 ounces (15.55 tonnes) of gold to its reserves in April.

Russia adding gold to reserves at a faster pace than China

Russia now has 1,477 tonnes of gold in reserve; the sixth most of any nation.

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Russian Gold Reserves

After adding 6,700,000 ounces (208 tonnes) of gold to her reserves in 2015, 700,000 ounces (21 tonnes) in January 2016, 300,000 ounces (9.33 tonnes) in February and 500,000 ounces in March, the Central Bank of the Russian Federation announced today that it had added another 500,000 ounces of gold (15.55 tonnes) to its reserves in April 2016.

The report indicated that Russian gold reserves increased by 500,000 ounces from its March 2016 report to 47.5 million ounces (1477.42 tonnes).

Russian Central bank gold reserves June 2015-April 2016

Russia added 500,000 ounces of gold to its reserves in April 2016.

Since 2009, Russia has added more than 852 tons of gold to its reserves more than China who added about 754 tons during the same time period.

Russian Monthly Gold Purchases June 2014 – April 2016

Russian gold reserves monthly additions June 2014 - April 2016

Russia has added 12.8 million ounces (approximately 398 tons) to its reserves from June 2014 through March 2016.

Russia Adding Gold To Reserves At A Faster Pace Than China

From August to April 2016 China added 131 tonnes of gold to its reserves, while Russia added 189 tonnes, or 44% more.

Russian and Chinese Central Bank Additions to Gold Reserves August 2015 - April 2016

Russia added 59 more tonnes of gold to its reserves than China from August 2015 – April 2016.

Gold reserves top ten may 20 2016

According to the World Gold Council, Russia holds the sixth most gold of any nation.

Overall Russian Reserves Increasing

The reserves of the Central Bank of Russian have grown $20 billion since January. Rising oil prices, however, may curb Russia’s need to continue to build reserves

According to the Russian Central Bank, January official reserves assets were $371,559.1 million of which foreign currency reserves were $302,759 million.

In February, official reserves assets grew to $380,544.3 million and foreign currency reserves increased to $311,094.4 million.

In March, official reserves assets grew to $387,008.1 million and foreign currency reserves increased to $317,834.9.

In April, official reserve assets grew to $391,521.1 million and foreign currency reserves increased to 319,000.9 million.

Gold represented about $60 billion of Russia’s overall reserves in April 2016, or about 15%.

Russia’s foreign reserves, were the only major emerging market central bank that showed a gain over the past year.

Russian U.S. Treasury Holdings

Russia’s U.S. Treasury Bond Holdings January 2014-February 2015

The Russian Central Bank has increased its US Treasury reserve holdings selling off a good portion of them in the summer of 2015.

As of February, 2016, Russia held $87.6 billion in U.S. Treasury Bonds down from $131.8 billion in January 2014 but up from $66.5 billion in April 2015.

russian Treasury bond holdings January 2014 - Feb 2016

Russia reduced their U.S. Treasury bond holdings in February 2016 by $9.3 billion from January, bringing their total to $87.6 billion

Roubles For Gold

Increasingly, Russia has been buying up more of their gold mining production, in effect converting roubles into gold.

Russian gold mining vs gold reserves 2006-2016

Russia is retaining an increasing percentage of its gold mining output.

Adding gold to reserves has helped Russia offset the loss of value in the rouble vs. gold over the past year.

gold vs the russian rouble 2016 april 20

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Further Reading:

Russian Gold Reserves (monthly archive)

Russia’s U.S. Treasury Holdings vs. Gold Reserves

Top Foreign Holders of U.S. Treasuries

Gold Repatriation Requests (updated regularly)

Gold Supply and Demand

The Importance of Gold

The Smaulgld Gold Buying Guide

Gold Reserves By Country – Top 20

Russia, Ukraine and the Dollar

Are Russia and China Moving Against the Dollar

Gold and Silver Price Manipulation – Suspected

Gold and Silver Price Manipulation – Actual

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