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Tue Aug 20, 2019, 09:10 PM

Going For Gold: Russia Boosts Bullion Stockpile By 9 Tons In July



Published time: 20 Aug, 2019 15:16

Russia’s gold reserves rose by 9 tons in July, increasing the value of the bullion holdings by 1.64% to a hefty $101.923 billion (€92 billion), as of August 1.

Official figures show gold now accounts for 19.6% of the total reserves of the Russian Federation. July’s gold purchases brought the country’s gold reserves to a total of 2,217.68 tons (71.3 million ounces), and increased by 0.42% in one month, according to the latest data released by the Central Bank of Russia (CBR).

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This is less than the 18 tons of the precious metal purchased in June, but still means Russia is on course for de-dollarization of its economy and remains committed to gold purchases due to US sanctions.

From January to July, the regulator purchased a total of 105.75 tons of monetary gold. The biggest gold splurge came in February, when the nation’s gold reserves rose by more than 31 tons.

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https://www.rt.com/business/466906-gold-reserve-russia-rise/

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Reply Going For Gold: Russia Boosts Bullion Stockpile By 9 Tons In July (Original post)
RCW2014 Aug 20 OP
imwithfred Aug 20 #1
RCW2014 Aug 20 #2

Response to RCW2014 (Original post)

Tue Aug 20, 2019, 09:13 PM

1. When I was a kid, I read in one of those "believe it or not" syndicated newspaper features

that all the gold ever mined and used in the world since the beginning of time was lumped together, it would be about the size of a big red barn, which to me seems pitifully little.

Does anybody have any idea if this might be true or not?

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Response to imwithfred (Reply #1)

Tue Aug 20, 2019, 09:21 PM

2. Maybe back in 1927, when you were a kid...

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