Russian Central Bank Adds 900,000 Ounces of Gold To Reserves in November.

Russia’s annual gold additions to reserves through November of over 214 tons is a record.

Russian Gold Reserves Climb to 1828 tons, sixth behind the People’s Bank of China.

Since June 2015, the Central Bank of Russia has added over 548 tons of gold to reserves.

November’s 27.99 ton gold addition brings Russia’s Central Bank holdings to 1828.88 tons; the sixth most of any nation, close behind the People’s Bank of China.

Overall Russian reserves rose from $424.857 billion in October to $431.636 in November.

Russian holdings of U.S. Treasuries top $100 billion for seventh month in a row.

Gold reserves worth $76.1 billion constitute 17.6% of overall Russian reserves.

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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.

Central Bank of Russia has added 6.9 Million ounces (approximately 214.61 tonnes) in 2017 through November.

In November the Central Bank of Russia added 900,000 ounces (27.99 tons) of gold to her reserves, raising her total to 1828.88 tons or 58.8 million ounces. In October 2017, the Central Bank of Russia added 700,000 ounces (21.77243 tons) of gold to her reserves. In September 2017, the Central Bank of Russia added 1.1 million ounces (34.2138 tons). In August 2017, the Central Bank of Russia added 500,000 ounces (15.55 tons) of gold to her reserves (56.1 million ounces). In July, the Central Bank of Russia added 400,000 ounces (12.44139 tonnes) of gold to reserves after adding 300,000 ounces (9.33104 tonnes) of gold in June and 700,000 (21.77 tonnes) of gold in May. In April, the Central Bank of Russia added 200,000 ounces (6.22 tonnes) after adding 800,000 ounces (24.882 tonnes)in March, 300,000 ounces (9.331043 tonnes) in February and 1,000,000 ounces (31.104 tonnes) in January.

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 548 tons of gold to her reserves from June 2015 – to November 2017.

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Since 2009, Russia has added over 1,100 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 – November 2017

Russia has added 24.1 million ounces (approximately 750 tons) to its reserves from June 2014 through November 2017.

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Russia Adding Gold To Reserves At A Faster Pace Than China

From March 2016 to May 2017 China added 45 tonnes of gold to its reserves, while Russia added 246 tonnes, or 447% more.

The People’s Bank of China’s gold reserves as of September 2017 are at the same level as of October 2016. The Central Bank of Russia added 7.6 million ounces (236.39 tons) of gold from October 2016 to September 2017.

Russia has added about 122 more tonnes of gold to its reserves than China from November 2015 – November 2016.

Roubles For Gold

Increasingly, Russia has been buying up more of their gold mining production, in effect converting roubles into gold.

The Russian Central Bank announced earlier this month that it would begin buying gold on the Moscow Stock Exchange.

Russia is retaining an increasing percentage of its gold mining output.

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Russia has the sixth largest gold reserves of any nation.

Overall Russian Reserves

The reserves of the Central Bank of Russian have grown over $60 billion or about 16% since January 2016.

Gold represented about $76.1 billion of Russia’s overall reserves at the end of November 2017, or about 17.6%.

Overall Russian Central Bank foreign reserves grew approximately 16% since January 2016.

Russian U.S. Treasury Holdings

Russia’s U.S. Treasury Bond Holdings 2014 – 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 October 2017, Russia held $105.0 billion in U.S. Treasury Bonds down from $131.8 billion in January 2014 but up from $66.5 billion in April 2015.

Russian holdings of U.S. Treasuries increased 57% from April 2015 to October 2017.

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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