Russian Central Bank Continues World Leading Gold Acquisition Spree in 2017.
The Central Bank of the Russian Federation added 1,000,000 ounces (31.104 tons) of gold to its reserves in January 2017.
Russia’s central bank holdings were at 1645.374 tons of gold at end of January 2017; the sixth most of any nation.
Russian Central Bank has added 187% more gold to reserves than the People’s Bank of China over the past 12 months.
Overall Russian Reserves rose from $377.741 billion in December to $390.585 billion in January.
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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 January 2017, The Central Bank of Russia added 1,000,000 ounces (31.104 tonnes) of gold to her reserves, raising her total to 1645.374 tons or 52.9 million ounces.
The chart below shows the Central Bank of Russia’s Gold Reserves by month with tonnage rounded to the nearest metric ton.
Since 2009, Russia has nearly 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 – January 2017
Russia has added 18.2 million ounces (approximately 566 tons) to its reserves from June 2014 through November 2016.
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Russia Adding Gold To Reserves At A Faster Pace Than China
From January 2016 to January 2017 China added 80 tonnes of gold to its reserves, while Russia added 230 tonnes, or 187% more. The People’s Bank of China added no gold to its reserves in November 2016, while Russia added over 31 metric tons. Neither country added to their gold reserves in December 2016.
Russia has added about 122 more tonnes of gold to its reserves than China from November 2015 – November 2016.
Russia has the sixth largest gold reserves of any nation.
Overall Russian Reserves
The reserves of the Central Bank of Russian have grown $19 billion or 5.1% since January 2015. 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
Gold represented about $62.9 billion of Russia’s overall reserves in January 2017, or about 16%.
Russian U.S. Treasury Holdings
Russia’s U.S. Treasury Bond Holdings January 2014-December 2016
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 December 2016, Russia held $86.1 billion in U.S. Treasury Bonds down from $131.8 billion in January 2014 but up from $66.5 billion in April 2015.
Russia held $86.1 billion in U.S. Treasury bond holdings as of December, 2016, down 35% from January 2014.
China held $1058.4 billion in U.S. Treasury bond holdings as of December, 2016, down 17% from January 2014.
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.
Russia is retaining an increasing percentage of its gold mining output.
Russian gold and reserve data from the Central Bank of the Federation of Russia
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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