Russia Is Scooping Up Gold Like There’s No (Petrodollar) Tomorrow

Once again, we see that the Russians have been adding to their stack as most in the West are oblivious. Here’s the details…

by Louis Cammarosano of Smaulgld

Russian Central Bank Adds 700,000 Ounces of Gold To Reserves in October.

Since June 2015, the Central Bank of Russia has added over 520 tons of gold to reserves.

October’s 21.77243 ton gold addition bring Russia’s Central Bank holdings to 1800.89 tons; the sixth most of any nation, close behind the People’s Bank of China.

Overall Russian Reserves rose from $424.766 billion in September to $424.857 billion in October.

Russian Holdings of U.S. Treasuries Top $100 billion for sixth month in a row.

Gold reserves worth $73.7 billion constitute 17.3% of overall Russian reserves.

In October 2017, the Central Bank of Russia added 700,000 ounces (21.77243 tons) of gold to her reserves, raising her total to 1800.89 tons or 57.9 million ounces. In September 2017, the Central Bank of Russia added 1.1 million ounces (34.2138 tons). In August 2017, the Central Bank of Russia added 500,000 ounces (15.55 tons) of gold to her reserves (56.1 million ounces). In July, the Central Bank of Russia added 400,000 ounces (12.44139 tonnes) of gold to reserves after adding 300,000 ounces (9.33104 tonnes) of gold in June and 700,000 (21.77 tonnes) of gold in May. In April, the Central Bank of Russia added 200,000 ounces (6.22 tonnes) after adding 800,000 ounces (24.882 tonnes)in March, 300,000 ounces (9.331043 tonnes) in February and 1,000,000 ounces (31.104 tonnes) in January.

Russia Adding Gold To Reserves At A Faster Pace Than China

From March 2016 to May 2017 China added 45 tonnes of gold to its reserves, while Russia added 246 tonnes, or 447% more.

The People’s Bank of China’s gold reserves as of September 2017 are at the same level as of October 2016. The Central Bank of Russia added 7.6 million ounces (236.39 tons) of gold from October 2016 to September 2017.

Editor’s Note: This is only an excerpt from this in-depth report which can be found here.