Tuesday , August 3 2021

Russia buys gold for about $ 3.5 billion a month



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Russia buys around $ 3.5 billion in gold per month, citing the delegation's website on Friday, November 16, 2018.

Russia has recently moved to increase the pace of gold purchases, and during October increased metal reserves worth around 3.5 billion dollars.

The Russian central bank reported that Russia raised its gold reserves last month from $ 77.491 billion to $ 81.055 billion, or $ 3.564 billion.

Since the beginning of the year, Russia has bought gold

With a value of $ 4.408 billion, the value of yellow metal reserves in early January was 76.674 billion dollars.

Gold reserves peaked last May, reaching 81.146 billion dollars, according to the Russian Central Bank.

Russia is ranked fifth in the world with gold reserves, which was achieved in November

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According to World Gold Council data 2036.2 tons, and Russia has done it for economies such as China, Japan, Switzerland and Britain.

According to the data, Russia's yellow metal reserves constitute 16.9% of the total reserves, which amounted to $ 459.563 billion earlier this month, up 6.19% compared to earlier this year.

Russia has recently turned to buying gold and leaving investment in US Treasuries under Washington's sanctions policy against Moscow.

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Source: Wafd


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