The Central Bank of Russia added 189 tons of gold to her reserves from August 2015 to April 2016.Russia has added 58 more tons of gold to its reserves than China from August 2015 through April 2016.
Russia is now the sixth largest gold holding nation in the world behind 5th place China
Rory from the Daily Coin and I sat down last week and discussed the silver and gold markets. We discussed record American Silver Eagle, Canadian Silver Maple Leaf and Perth Mint silver sales. We also discussed our ‘breadcrumb’ approach to analyzing the precious metals markets that strips out the hyperbole.
We discussed the possible implications of an electronic manufacturer contacting a silver miner. Did it mean the silver market was tight or perhaps a manufacturer trying to get a good deal direct from a supplier while the price was low?
We also discussed central bank gold buying and noted that the Russian Central Bank has added about 44% more gold to her reserves than The People’s Bank of China since August 2015. We also covered the Indian gold tariffs and tax and the impact they have had on official gold imports to India.
Please have a listen and check out the charts below.
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The People’s Bank of China has been adding gold to its reserves each month at a decent clip
The People’s Bank of China added 11 tonnes of gold to reserves in April 2016.
…but the Russian Central Bank has been adding more!
Russia added 500,000 ounces of gold to its reserves in April 2016.
Russia added 58 more tonnes of gold to its reserves than China from August 2015 – April 2016.
India’s Gold Imports have suffered due to government action in 2016
Indian February gold imports were the lowest monthly imports since December 2014.
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Special treat for Smaulgld readers: Nick Laird’s Gold Charts R Us website (source of many Smaulgld.com charts), normally subscription access, is free right now for a while, as he updates website: Click here to check it out.
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