Russia Adds Another Huge Pile of Gold To Reserves in March

Central Bank of Russia Added 800,000 Ounces (24.882 tons) of Gold To Reserves in March.

Russia’s central bank holdings were at 1679.687 tons of gold at end of March 2017; the sixth most of any nation.

Russian Central Bank has added nearly five times more gold to reserves than the People’s Bank of China over the past 12 months.(218 tons vs 45 tons)

Overall Russian Reserves rose from $397.334 billion in February to $397.907 billion in March.

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Russian Gold Reserves

After adding 6,700,000 ounces (208 tonnes) of gold to her reserves in 2015, the Russian Central Bank added another 6,400,000 ounces 199 tonnes) in 2016.

The Central Bank of Russia ended 2016 with 1614.267 tonnes of gold on their balance sheet.

In March 2017, the Central Bank of Russia added 800,000 ounce of gold to her reserves, raising her total to 1679.687 tons or 54.0 million ounces. In February, the Central Bank of Russia added 300,000 ounces (9.331043 tonnes) to reserves after adding 1,000,000 ounces (31.104 tonnes) in January.

The chart below shows the Central Bank of Russia’s Gold Reserves by month with tonnage rounded to the nearest metric ton.

Russian gold reserves June 2015 - March 2017

The Central Bank of Russia added nearly 430 tons of gold to her reserves from June 2015 to March 2017.

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Since 2009, Russia has added over 1,000 tons of gold to its reserves more than China who added about 775 tons during the same time period.

Russian Monthly Gold Purchases June 2014 – March 2017

Russian monthly gold additions June 2014 - March 2017

Russia has added 19.3 million ounces (approximately 600 tons) to its reserves from June 2014 through March 2017.

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Russia Adding Gold To Reserves At A Faster Pace Than China

From March 2016 to March 2017 China added 45 tonnes of gold to its reserves, while Russia added 218 tonnes, or 384% more.

The People’s Bank of China’s gold reserves as of March 2017 are at the same level as of November 2016. The Central Bank of Russia added 2.1 million ounces (65.316 tons) of gold from November 2016 to March 2017.

Russian and Chinese central bank monthly gold additions November 2015 - November 2016

Russia has added about 122 more tonnes of gold to its reserves than China from November 2015 – November 2016.

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Gold Reserves by Country top ten April 20 2017

Russia has the sixth largest gold reserves of any nation.

Overall Russian Reserves

The reserves of the Central Bank of Russian have grown $26 billion or about 7% since January 2016. Rising oil prices, however, may curb Russia’s need to continue to build reserves.

Russia has also overtaken Saudi Arabia as the world’s largest crude oil producer and seller of oil to China.

2016 Russian Reserves

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.

In April, official reserve assets grew to $391,521.1 million and foreign currency reserves increased to $319,000.9 million.

In May official reserve assets fell to 387,716.0 million and foreign currency reserves increased to $319,521.9 million.

In June official reserve assets rose to $392,756.5 million and foreign currency reserves fell to $316,701.3 million.

In July official reserve assets rose to $393,912.5 million and foreign currency reserves fell to $316,179.1 million.

In August official reserve assets rose to $395,198.4 million and foreign currency reserves rose to $318,254.1 million.

In September official reserve assets rose to $397,743.4 million and foreign currency reserves rose to $320,381.3 million.

In October official reserve assets fell to $390,740.9 million and foreign currency reserves fell to $314,824.4 million.

In November official reserve assets fell to $385,288.3 million and foreign currency reserves fell to $312,395.8 million.

In December official reserve assets fell to $377,741.3 million and foreign currency reserves fell to $307,971.4.

In January 2017 official reserve assets rose to $390.585 billion and foreign currency reserves rose to $317,914.2

In February 2017 official reserve assets rose to $397.334 billion and foreign currency reserves rose to $320,573.6 million.

In March 2017 official reserve assets rose to $397.907 billion and foreign currency reserves fell to $320,457.20 million.

Russian Foreign and Currency Reserves 2016-2017

Gold represented about $67.5 billion of Russia’s overall reserves at the end of February 2017, or about 17%.

Russian foreign and currency reserves January 2015 - March 2017


Russian U.S. Treasury Holdings

Russia’s U.S. Treasury Bond Holdings February 2017-February 2017

The Russian Central Bank has increased its US Treasury reserve holdings selling off a good portion of them in the summer of 2015.

As of February 2017, Russia held $86.3 billion in U.S. Treasury Bonds down from $131.8 billion in January 2014 but up from $66.5 billion in April 2015.

Russian Holdings of US Treasuries February 2016 - February 2017

Russia held $86.3 billion in U.S. Treasury bond holdings as of February 2017, about equal to holdings in February 2016.

Russia has less than 10% of the amount of US Treasury Securities as China.

Roubles For Gold

Increasingly, Russia has been buying up more of their gold mining production, in effect converting roubles into gold.

Russian Gold mining production vs gold added to reserves 2006 - 2016

Russia is retaining an increasing percentage of its gold mining output.

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Further reading on Russia’s gold production:

Russia’s VTB bank to supply 15-20 T of gold to China in next 12 months Russia to increase gold production

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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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