Russia Adds 500,000 Ounces of Gold to Reserves in March

Russian Gold Reserves March 2016 .

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

Russia adding gold to reserves at a faster pace than China

Russia now has 1,462 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, and 300,000 ounces (9.33 tonnes) in February, 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 March 2016.

The report indicated that Russian gold reserves increased by 500,000 ounces from its February 2016 report to 47 million ounces (1461.86 tonnes).

Russian Central bank gold reserves June 2015 - March 2016

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

Since 2009, Russia has added more than 837 tons of gold to its reserves more than China who added 743 tons during the same time period.

Russian Monthly Gold Purchases June 2014 – March 2016

russian monthly additions to gold reserves June 2014 - March 2016

Russia has added 12.3 million ounces to its reserves from June 2014 through March 2016.

Overall Russian Reserves Increasing

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.

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-January 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

Russia Adding Gold To Reserves At A Faster Pace Than China

From August to March 2016 China added 120 tonnes of gold to its reserves, while Russia added 174 tonnes, or 45% more.

Russia and China monthly additions to gold reserves ausut 2015 march 2016

Russia added 54 more tonnes of gold to its reserves than China from August 2015 – March 2016.

gold reserves by country april 20 2016 top ten

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

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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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