Russia Adds 600,000 Ounces of Gold to its Reserves in December

Russian Gold Purchases in December 2014.

Russian Gold Reserves

Russia adds 600,000 ounces (18.7 tons) of gold to its gold reserves in December.

Russia ends 2014 with 38.8 million ounces (1,207 tons) of gold in reserves.

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Russia’s Gold Buying Binge Continues Despite Rouble Woes – Adds Another 600,000 Ounces to its Gold Reserves in December

Increase in Russian Gold Reserves Dispels Speculation that Russia Might Be Selling Gold Amid Rouble Collapse

Today the Central Bank of the Russian Federation published its official December 2014 reserve assets and other foreign currency assets report indicating that it had added 600,000 ounces of gold to its reserves. Russia also added 600,000 ounces of gold to its reserves in November.

Russia’s gold reserves as at the end of 2014 stand at 38.8 million ounces or 1,207 tons.

Russia’s December gold purchases dispel unfounded market speculation that Russia would sell some of its gold in light of the collapse of the rouble in recent months.

Russian President Vladimir Putin had noted that the Russian Central Bank should NOT sell reserves to protect the rouble. It appears he has been true to his word and December’s purchase shows that Russia is serious about continuing to build its gold reserves.

Russian Gold Reserves Continue to Grow

chart showing russian gold reserves at end of December 2014

Russia adds 600,000 ounces of gold to its reserves in December 2014

Russian Gold Reserves In Tons (annual purchases)

chart showing russian gold reserves as of end of 2014

Russia has 1,207 tons of gold as of the end of 2014

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Charts courtesy of Nick Laird owner of Sharelynx – The Gold Standard in Precious Metals Charts

Further Reading:

Russian Gold Reserves (monthly archive)

Russia’s US Treasury Holdings vs Gold Reserves

Gold Repatriation Requests (updated regularly)

Gold Supply and Demand

The Importance of Gold

Save our Swiss Gold

The Smaulgld Gold Buying Guide

The West Sells Paper Gold While the East Buys Physical Gold

Gold Continues to Move From West to East

Gold Reserves By Country – Top 20

Top Foreign Holders of U.S. Treasuries

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

China Hoards its Gold Production and Ramps up its Imports

Royal Canadian Mint

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