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.)
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.
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.
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.
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.
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
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)
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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