Russia Passes China With Big January Gold Purchase

Russian Central Bank Gold Reserves Rise to 1,857 Tons in January, Passing People’s Bank of China’s 1,843 Ton Gold Hoard.

Russian gold reserves are now the fifth largest in the world.

Russia added 600,000 ounce of gold (18.66 tons) to reserves in January.

Russia added a record 224 tons of gold to reserves in 2017.

Since June 2015, the Central Bank of Russia has added over 576 tons of gold to reserves.

Overall Russian reserves rose from $432.742 billion in December to $447.735 in January.

Russian holdings of U.S. Treasuries top $100 billion for ninth in a row.

Gold reserves worth $80.4 billion constitute 17.95% of overall Russian reserves.

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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 6,400,000 ounces (199 tonnes) in 2016 and another 224 tons (7,202,000 ounces) in 2017.

The Central Bank of Russia ended 2016 with 1838.21 tonnes of gold on their balance sheet

Central Bank of Russia added 7.2 Million ounces (approximately 223.945 tonnes) in 2017.

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

Central Bank of Russia Gold Reserves June 2015 - January 2018

The Central bank of Russia has added about 576 tons of gold to her reserves from June 2015 – to January 2017.

Russian Additions-Subtractions to Gold Reserves 1997 - 2017

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Since 2009, Russia has added over 1,100 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 2018

Russian Monthly Gold Purchases June 2014 - January 2018

Russia has added 25.0 million ounces (approximately 778 tons) to its reserves from June 2014 through January 2018.

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Russia Adding Gold To Reserves At A Faster Pace Than China

From March 2016 to May 2017 China added 45 tonnes of gold to its reserves, while Russia added 246 tonnes, or 447% more.

The People’s Bank of China’s gold reserves as of September 2017 are at the same level as of October 2016. The Central Bank of Russia added 7.6 million ounces (236.39 tons) of gold from October 2016 to September 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.

Roubles For Gold

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

The Russian Central Bank announced earlier this month that it would begin buying gold on the Moscow Stock Exchange.

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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gold reserves by country top ten february 20 2018

Russia has the fifth largest gold reserves of any nation.

Overall Russian Reserves

The reserves of the Central Bank of Russian have grown over $76 billion or about 21% since January 2016.

Gold represented about $80.37 billion of Russia’s overall reserves at the end of January 2018, or about 18%.

Russian Foreign and Currency Reserves January 2016 - January 2018

Overall Russian Central Bank foreign reserves grew approximately 21% since January 2016.

Russian U.S. Treasury Holdings

Russia’s U.S. Treasury Bond Holdings 2014 – 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 December 2017, Russia held $102.2 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 U.S. Treasuries June 2015 - December 2017

Russian holdings of U.S. Treasuries increased 57% from April 2015 to October 2017.

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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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