Russian Central Bank Gold Reserves Rose to 2,183.464 Tons in July.
Russia added 300,000 ounces of gold (9.33 tons) to reserves in July.
Russian gold reserves are the fifth largest central bank holdings in the world.
Russia added a record 271 tons of gold to reserves in 2018.
Since June 2015, the Central Bank of Russia has added over 936 tons of gold to reserves.
Overall Russian reserves rose from $475.944b in January to $519.796b in July.
Gold reserves worth $101.923 billion constitute 19.6% of overall Russian reserves.
The Central Bank of Russia added 86% of its domestic gold mining production of 314 tons to reserves in 2018.
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Russia Add Another 9.33 Tons of Gold in July
After adding 6,700,000 ounces (208 tonnes) of gold to reserves in 2015, the Russian Central Bank added 6,400,000 ounces (199 tonnes) in 2016, another 224 tons (7,202,000 ounces) in 2017</a> and a record 271 tons (8,700,000 ounces) in 2018.
Today, the Central Bank of Russia revealed that their gold reserves increased by another 300,000 ounces or 9.33 tons in July bringing their 2019 gold acquisition to 106 tons and total gold reserves to 2,218 tons worth $101.923 billion as of the end of July 2019.
The chart below shows the Central Bank of Russia’s Gold Reserves by month with tonnage rounded to the nearest metric ton.
The Central bank of Russia has added about 936 tons of gold to reserves from June 2015 – to July 2019.
Russian Central Bank gold reserve buying has averaged well over 200 tons a year since 2015.
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Russian Monthly Gold Purchases June 2014 – July 2019
Russia has added 36 million ounces (approximately 1120 tons) to reserves from June 2014 through July 2019.
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Russia has the fifth largest gold reserves of any nation.
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While Russia leads the world’s central banks in gold acquisition, each year India imports three to nearly five times the amount of gold that Russia adds to reserves on an annual basis.
The Russian Central Bank announced that it would begin buying gold on the Moscow Stock Exchange.
Source USGS/Central Bank of Russia
Russia is retaining an increasing percentage of its gold mining output.
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Roubles For Gold
Increasingly, Russia has been buying up more of their gold mining production, in effect converting roubles into gold.
Russia does little trade with the United States and has been subject to a series of U.S. inspired sanctions for the past few years. As a result, while Russia had been working on increasing its overall foreign reserves in recent years, it focused more on adding gold than U.S. Treasuries.
Russian Gold Reserves vs. U.S. Treasury Holdings
Russian U.S. Treasury and gold reserves source: U.S. Treasury TIC report and Russian Central Bank, respectively.
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
Russian gold and reserve data from the Central Bank of the Federation of Russia
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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
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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