Russia Buys 30 Tonnes of Gold
April 29, 2015 [...]
Russia has increased its gold bullion reserves with an additional 30 tonnes - according to this article by Financial Review, which also tells us that this was the country's biggest purchase since September 2014.
As of April 1, 2015, Russia had a total of 1,238 tonnes of gold bullion in reserve.
Russia is buying periodically buying gold in order to counteract with the West-imposed financial and economic sanctions - as reported earlier by Prime Values.
A few years ago, Russia has earned the reputation of being the biggest buyer of gold (even more than China) - read Prime Values on this.
The BRIC nations are among the biggest buyers of gold and it is highly probable that they are going to create a common currency, part of a new financial system and gold will play a key role in it.
Stay tuned to Prime Values for further news, trends and analyses.
comments powered by Disqus