Russia Adds Another 300,000 Ounces of Gold To Its Reserves in July

Russia Adds 300,000 Ounces of Gold to its Reserves July 2014

Russia’s De-Dollarization Efforts Continue as They Add Another 300,000 Ounces of Gold to Their Reserves in July.

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Russia adds another 300,000 ozs of Gold to its Reserves in July

Russia’s de-dollarization efforts continued in July as they added another 300,000 ounces of gold worth approximately $390 million to their burgeoning reserves. Russia has added 1.1 million ounces of gold to its reserves in the past three months.

As of the end of July 2014, Russia’s gold reserves are approximately 36 million ounces, up nearly three fold since 2008. Russia’s gold reserves place them in the top ten nations by gold reserves

Russia is also the world’s third largest gold producer.

Later this week, we will examine the importance of gold to nations and individuals. There will be plenty of data and charts to review!

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Russia continues to acquire physical gold for its reserves

Russia adds another 300,000 ounces to its gold reserves in July.

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Further Reading:

Russian Gold Reserves (monthly archive)

The Smaulgld Gold Buying Guide

Russia Continues to Boost its Gold Reserves in May

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

Are Russia and China Moving Against the Dollar

Gold and Silver Price Manipulation – Suspected

China Hoards its Gold Production and Ramps up its Imports

Russia and China move to de-dollarize; switch to Yuan

Russia and China join forces to de-dollarize

Russia signs oil deal with Vietnam

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