Russian Gold Reserves Grow By 6.7 Million Ounces in 2015

Russian Gold Reserves.

Russian Central Bank Gold Reserves rise 6,700,000 ounces (208 tonnes) in 2015.

Russia added 700,000 ounces (21.77 tonnes) of gold to its reserves in December.

Increase in Russian Gold Reserves of 208 tonnes in 2015 is a record, surpassing record set in 2010 of 176 tonnes.

Russia has added more gold to its reserves since November 2014 (7,900,000 oz) than COMEX has in its vaults (registered and eligible) (7,780,000 oz.)

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Russian Gold Reserves

Today, the Central Bank of the Russian Federation issued its official December 2015 reserves and other foreign currency assets report. The report indicated that Russian gold reserves increased by 700,000 ounces from its November 2015 report to 45.5 million ounces.

Russian Central bank gold reserves 2009-2015 december

Russia added 700,000 ounces of gold to its reserves in December 2015.

Since 2009 Russia has added more than 805 tons of gold to its reserves more than China who added (709 tons) during the same time period.

From August to December 2015 China added 85 tonnes of gold to its reserves, while Russia added 127 tonnes.

chinese and russian gold additions 2015

Russia added 42 more tonnes of gold to its reserves than China from August – December 2015, or 53% more.

Russian Monthly Gold Purchases June 2014 – December 2015

Russia added 10.8 million ounces of gold to its reserves from June 2015 to December 2015.

Russian Gold Reserves June 2014 - december 2015

Russia has added 10.8 million ounces to its reserves from June 2014 through December 2015.

Russian Central Bank Gold Reserves

Russia’s massive additions to its gold reserves come at a time when they are seeing their biggest decline in wages and retail sales since 1999 and a massive drop in the value of the rouble.

Russia’s top central banker Elvira Nabiullina said recently “Regarding gold and foreign currency reserves, we have the desired benchmark of $500 bln, and not in the three-year term, it could be 5-7 years and more. We believe it is necessary in terms of creating additional financial cushion for the state in the face of such external uncertainties.”

Russia has been rebalancing its foreign reserves to favor gold vs. U.S. Treasury Bonds. Russia’s gold buying binge had coincided with a steady sell off of her U.S. Treasuries.

It might be expected that as Russia increases its foreign reserves it would do so at least in proportion with that of its current gold reserves.

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In November 2015, Russia added 700,000 ounces of gold to its reserves while also adding $6 billion of U.S. Treasuries.

Russian U.S. Treasury Holdings

Russia’s U.S. Treasury Bond Holdings January 2014-November 2015

Russian treasury bond holdings january 2014 -november 2015

Russia added $6 billion in U.S. Treasuries in November 2015.

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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

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

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