Russia increased its gold holdings by one million ounces in March, bringing its total reserves to nearly 40 million ounces or 1,238 metric tonnes. The Russian one million ounce gold purchase is a large one even by Russian standards as in recent years they have consistently been buying roughly 300,000 ounces per month.
It followed a two month break from the gold market which had led to erroneous speculation that Russia was not interested in increasing its gold reserves any further. Continue reading “Currency Wars Back As Russia Buys One Million Ounces of Gold in March”