Russia and De-Dollarization and Rebalancing Reserves
Russia has spent over a year of de-dollarizing and rebalancing its reserves
Russia’s Gold Reserves vs. U.S. Treasury holdings.
Russia boosted gold reserves 16% in 2014 while lowering their U.S. Treasury Holdings by nearly 30% as part of its de-dollarization strategy.
Russia added 18.7 tons of gold to its reserves in December 2014 bringing its gold reserve total to 1,207 tons (worth approximately $50 billion) and lowered its U.S. Treasury holdings to $108 billion from $140 billion a year ago.
Russian De-Dollarization Illustrated
Russia’s de-dollarization that began before western sanctions were imposed, has accelerated. In December, Russia announced the addition of 18.7 tons of gold to its reserves bringing its total as of year end 2014 to 1,207 tons up from 1,035 tons as of year end 2013.
Russia has lowered their U.S. Treasury bond holdings from $139.9 billion as of November 2013 to $108.1 billion.
In November 2013, Russia held nearly $140 billion in U.S. Treasury bonds and $43 billion worth of gold* (about 1,036 tons).
In December 2014, Russia held $108.1 billion in U.S. Treasury bonds and $50.2 billion worth of gold* (about 1,207 tons).
Update May 20, 2015
In March 2015, Russia held $69.9 billion in U.S. Treasury bonds and about $47.8 billion worth of gold in April** (about 1,247 tons).
*based on average gold price of $1300 an ounce.
**based on average gold price of $1200 an ounce
Gold In Russian Roubles
Gold as measured in Russia Roubles is near an all time high (as of January 23).
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Further Reading:
Russia adds 600,000 ounces of gold to its reserves in December
Top foreign holders of US Treasuries
Gold Reserves By Country – Top 20
Gold Repatriation Requests (updated regularly)
Russia adds 600,000 ounces of gold to its reserves in November
Russia adds 600,000 ounces of gold to its reserves in October 2014
Russia adds 1.2 Million Ounces to its Reserves in September
Russia Adds 300,000 Ounces of Gold to its Reserves in August
Russia adds 300,000 Ounces of Gold to its Reserves in July
Russia adds 500,000 Ounces of Gold to its Reserves in June
Russia Continues to Boost its Gold Reserves in May
The Smaulgld Gold Buying Guide
The West Sells Paper Gold While the East Buys Physical Gold
Gold Continues to Move From West to East
Top Foreign Holders of U.S. Treasuries
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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