Russia's 2019 Gold Shopping Spree: Another 600,000 Ounces Added In March

Moscow (April 23)  The latest figures from the Russian central bank revealed that Russia’s interest in purchasing more gold is not subsiding.

The country’s central bank added another 18.7 tonnes of gold to its reserves, raising the total figure by 0.89%, according to a press release published on Friday.

This increased Russia’s total gold reserves to 69,700,000 ounces or 2,167.9 tonnes, the central bank stated. Gold represents around 18% of the central bank’s total reserves.

During the first quarter of 2019, Russia acquired 56 tonnes of the precious metal, buying 37.3 tonnes of that in January and February.

During the last decade, Russia’s gold reserves have been steadily climbing, with acceleration in pace beginning in 2014, according to the World Gold Council’s data.

KitcoNews

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