London Commodity Brokers Ltd.
    • Home
    • About Us
    • Commodity News
    • Price Information
    Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
    To find out more, including how to control cookies, see here: Cookie Policy
    April 17, 2019

    Russia Bought Nearly as Much Gold as All the Rest of the World Combined in 2018

    Precious Metals Russia, Russia Gold Buying

    And the spree continues

    Checkpoint Asia is an excellent new site which scours the media for the best Asia news with a geopolitical focus, plus 1st-class original journalism ranging from Russia to China to the Middle East. Smart, incisive, and free of globalist baloney. By a super-talented former deputy editor of ours of many years.

    By Marko Marjanović | Checkpoint Asia


    A wonderful bit of information in this piece to really put Russia’s gold-buying in perspective:

    In the meantime the structure of GIR changed, as the CBR has boosted its gold reserves and cut the share of US dollar in its currency holdings. In 2018 the CBR bought a record-high 274.3 tonnes of gold, bringing its share in GIR to about 19% and accounting for 42% of gold purchases of all central banks last year. At the same time the share of US dollar was cut from 43.7% to about 20%.

    Russia has been consistently adding to its gold reserves every month since 2006 now, but last year’s spree was truly remarkable. Not only did the Russian Central Bank gobble up almost the entire gold mined in Russia that year (and even imported some on top), it made 42% percent of all gold purchases by central banks in the entire world…Full Story

    Metal Prices 15th April 2019 Britain breaks coal-free power record over Easter weekend

    Related Posts

    Precious Metals

    U.S. charges another ex-JP Morgan executive with alleged market manipulation

    By Koh Gui Qing and Lawrence Delevingne | Reuters NEW YORK (Reuters) – The Department of Justice has charged another former JPMorgan Chase & Co executive with alleged racketeering and manipulating precious metals prices between 2008 and 2016, the latest in a string of similar prosecutions. The indictment against Jeffrey Ruffo, who is also charged […]

    Precious Metals

    Global gold demand rise 8% to 1,123 tonne in April-June: WGC

    Bars and coins saw 12% drop in the second quarter mainly due to China following the easing of currency concerns and high prices. Global gold demand grew by 8 percent year-on-year to 1,123 tonne in the April-June quarter of 2019, mainly driven by central banks purchases and rise in investments in gold-backed ETFs, according to […]

    Commodities, Precious Metals

    Gold price builds momentum as hedge funds add 36% to bullish bets

    Gold built on last week’s gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump. Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces […]

    London Commodity Brokers Ltd.
    © London Commodity Brokers Ltd.