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.
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
Russian Gold Reserves In Tons (annual purchases)