Russia adds 500,000 Ounces of Gold to its Reserves in June 2014
As Tensions in Ukraine Increase, So Do Russia’s Gold Reserves.
With Tensions Rising in Ukraine, Russia Continues to Add to its Gold Reserves
Russia adds another 500,000 oz. of gold to its reserves in June after adding 300,000 ounces in May.
Earlier this week, the United States placed a fresh round of sanctions on Russia. Last month we noted that Russia was responding to sanctions with three initiatives designed to minimize their impact by:
1. reducing its U.S. Treasury Reserve holdings;
3. boosting its gold reserves.
Russia is at the center of an accelerating “de-dollarization” campaign as part of the BRICS alliance.
Recently, Russian President Vladimir Putin said that United States sanctions would backfire.
It seem as the tensions rise in Ukraine, so do Russia’s gold purchases.
Russian Gold Reserves 2014 (through June 2014)
Gold Chart Courtesy of Nick Laird
Please visit the Smaulgld Store for a larger selection of recommended Kindles, books, music, movies and other items.
Or you can support Smaulgld.com by making purchases from our affiliates or by making all your Amazon purchases through the search widget below:
*DISCLOSURE: Smaulgld provides the content on this site free of charge. If you purchase items though the links on this site, Smaulgld LLC. will be paid a commission. The prices charged are the same as they would be if you were to visit the sites directly. Please do your own research regarding the suitability of making purchases from the merchants featured on this site.
The content provided here is for informational purposes only. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. Accordingly, users agree to hold SG, its owner and affiliates, harmless for all information presented on the site. SG presents no warranties. SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site.
The information contained herein does not constitute legal, tax or investment advice and may be subject to correction, completion and amendment without notice. SG assumes no duty to make any such corrections or updates. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. SG disclaims any and all liability relating to any investor reliance on the accuracy of the information contained herein or relating to any omissions or errors and as such disclaims any and all losses that may result.