Russia Buys 300,000 Ounces of Gold in March – Nears 2,000 Tons in Reserves


from Russia Insider:

Where is the ceiling? Since 2006 Russia has more than quadrupled its gold reserves from a measly 400 tonnes and just keeps buying more and more every month

Russia now holds just over 1,890 tonnes, more than officially reported by China at 1,842t

Both Russia and China have the power to destabilise US dollar by dumping dollar-denominated assets

Turkey has removed all gold held in the U.S. opting for Bank of England and BIS

Turkey follows trend set by both Germany, Netherlands and others to remove gold reserves stored in the United States

Central bank decisions regarding gold reserves are examples of countries becoming nervous about the outlook for the dollar under the Trump administration

Russia bought another 300,000 troy ounces of gold in March bringing Russia’s total gold reserves to 1,891 tonnes or 60.8 million troy ounces as of the start of April, the central bank announced loudly at the weekend.

The continuing robust and steady accumulation of gold reserves continues (for the 37th straight month)…

And it was notable how Russian media channels loudly (more loudly than usual it seemed with many outlets covering) pronounced the continuing diversification into gold bullion by the Russian central bank.

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