Russia Takes a Break From Gold Buying Binge in January

Russian Gold Purchases in January 2015.

Russia Reduces its U.S. Treasury Holdings to $86 billion in December 2014 from $108.1 billion in November.

Russian Gold Reserves

Russia adds no further ounces of gold to its reserves in January.

Russia ends January 2015 with 38.8 million ounces (1,207 tons) of gold in reserves – same as December 2014.

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Russia Halts Gold Buying Binge Amid Rouble Woes

Today the Central Bank of the Russian Federation published its official January 2015 reserve assets and other foreign currency assets report indicating that its gold reserves remained constant at 38.8 million ounces or 1,207 tons, the same level as December 2014.

Russian De Dollarization

Over the past year Russia has been increasing its gold reserves and selling its U.S. Treasury holdings.

chart showing russian gold reserves and us treasury holdings at year end 2014

Russia sold $22 billion worth of U.S. Treasuries added 600,000 ounces of gold to its reserves in December 2014. Russia holds $86 billion in U.S. Treasuries or about the amount of one month’s worth of QE3.

chart showing russian gold and treasury reserves at end of 2013

At the end of 2013 Russia held $139.8 billion in U.S. Treasuries and $43 billion worth of gold in reserves.

Russia’s unchanged gold reserves in January dispel unfounded market speculation that Russia would sell some of its gold in light of the collapse of the rouble in recent months. It seems that Russia is selling its U.S. Treasury holdings instead of any gold reserves.

Russian President Vladimir Putin had noted that the Russian Central Bank should NOT sell reserves to protect the rouble. It appears he has been true to his word and December’s purchase shows that Russia is serious about continuing to build its gold reserves.

Russian Gold Reserves Remain Unchanged

chart showing russian gold reserves at end of December 2014

Russian gold reserves remained constant in January 2015.

Russian Gold Reserves In Tons (annual purchases)

chart showing russian gold reserves as of end of 2014

Russia has 1,207 tons of gold as of the end of January 2015.

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Charts courtesy of Nick Laird owner of Sharelynx – The Gold Standard in Precious Metals Charts

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

Save our Swiss Gold

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

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

Royal Canadian Mint

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