Central Bank of Russia Added 300,000 Ounces (9.33 tons) of Gold To Reserves in February.
Russia’s central bank holdings were at 1654.705 tons of gold at end of February 2017; the sixth most of any nation.
Russian Central Bank has added nearly 175% more gold to reserves than the People’s Bank of China over the past 12 months.
Overall Russian Reserves rose from $390.585 billion in January to $397.334 billion in February.
Check out all the Smaulgld podcasts here.
Not a Smaulgld subscriber? Sign up here.
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 February 2017, The Central Bank of Russia added 300,000 ounces (9.331043 tonnes) of gold to her reserves, raising her total to 1654.705 tons or 53.2 million ounces. The Central Bank of Russia added 1,000,000 ounces (31.104 tonnes) of gold in January.
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 – February 2017
Russia has added 18.5 million ounces (approximately 575 tons) to its reserves from June 2014 through February 2017.
Compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
Golden Eagle Coins
Money Metals Exchange
Russia Adding Gold To Reserves At A Faster Pace Than China
From February 2016 to February 2017 China added 80 tonnes of gold to its reserves, while Russia added 217 tonnes, or 171% 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.
The People’s Bank of China’s gold reserves as of February 2017 are at the same level as of Novemeber 2016. The Central Bank of Russia added 1.3 million ounces (40.434 tons) of gold from November 2016 to February 2017.
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 $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.
Gold represented about $66.8 billion of Russia’s overall reserves at the end of February 2017, or about 17%.
Russian U.S. Treasury Holdings
Russia’s U.S. Treasury Bond Holdings January 2014-January 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 January 2017, Russia held $86.2 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 $86.2 billion in U.S. Treasury bond holdings as of January 2017, 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
If you have enjoyed this report, please consider sharing it, buying your precious metals through the Smaulgld affiliates linked to on this site* and subscribing (for free) to Smaulgld.com.
Please consider making a small donation to Smaulgld.com. Thanks!