Russian Gold Purchases in November 2014.
Russia adds 600,000 ounces of gold its gold reserves in November.
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Russia’s Gold Buying Binge Continues Unabated – Adds Another 600,000 Ounces to its Gold Hoard in November
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 November official reserve assets and other foreign currency assets report indicating that it had added 600,000 ounces of gold to its reserves.
Russia’s gold reserves now stand at 38.2 million ounces.
Russia’s November gold purchases dispel unfounded market speculation that Russia would sell some of its gold in light of the collapse of the rouble in recent weeks.
Indeed, earlier this week Russian President Vladimir Putin noted that the Russian Central Bank should NOT sell reserves to protect the rouble.
Russian Gold Reserves Continue to Grow
Russia added 600,000 ounces of gold to its reserves in October and November.
Russian Gold Reserves In Tons (annual purchases)
Russia has added over 150 tons of gold to its reserves this year.
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Chart courtesy of Nick Laird owner of Sharelynx – The Gold Standard in Precious Metals Charts
Further Reading:
Russian Gold Reserves (monthly archive)
Gold Repatriation Requests (updated regularly)
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
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