Russia Boosts Gold Reserves by $400M to Highest Since ’93

[jeff of pa]

“Russia has been the largest official buyer for years,” Eugen Weinberg, the head of commodities research at Commerzbank AG in Frankfurt, said today by e-mail. “It’s a part of its long-term strategy of amassing gold reserves and diversifying it foreign-exchange reserves.”

Russia Boosts Gold Reserves by $400M to Highest Since ?93 - Bloomberg

 

[Marchas45]

Yea the Russians also got the gold from the Crimea and are holding it for protection. Yea Right. Lol

 

[El Dorado Seeker]

9 tonnes is quite a lot - I'd love to have it

Russia is also one of the biggest producers of gold...