Russia Stacked A Record Amount Of Gold In 2017 And Now They’re Launching A PHYSICAL Exchange

Russia has been very busy this year in the gold market. Here’s the details…

Louis Cammarosano is reporting that Russia added a record amount of gold to its gold reserves in 2017:

Russia’s annual gold additions to reserves through November of over 214 tons is a record.

Russian Gold Reserves Climb to 1828 tons, sixth behind the People’s Bank of China.

Since June 2015, the Central Bank of Russia has added over 548 tons of gold to reserves.

November’s 27.99 ton gold addition brings Russia’s Central Bank holdings to 1828.88 tons; the sixth most of any nation, close behind the People’s Bank of China.

Overall Russian reserves rose from $424.857 billion in October to $431.636 in November.

Russian holdings of U.S. Treasuries top $100 billion for seventh month in a row.

Gold reserves worth $76.1 billion constitute 17.6% of overall Russian reserves.

In addition to adding a record amount of gold in 2017, Reuters is reporting that The Moscow Exchange is getting ready to go live with their deliverable gold market in 2018:

MOSCOW, Dec 21 (Reuters) – The Moscow Exchange will launch deliverable futures for gold in 2018 in a move to further prop up bullion market liquidity, bourse chief executive Alexander Afanasiev said on Thursday.

These deliverable futures will be denominated in roubles and the weight will be measured in grams, said Igor Marich, who oversees the bourse’s money and derivatives market.

The Moscow Exchange, previously known as Micex-RTS, is developing its infrastructure amid a Kremlin-backed bid to make Moscow one of the world’s leading financial hubs.

Earlier this year the Moscow Exchange let the central bank buy gold for its reserves on its spot market.

Putting two and two together, we clearly see the increasing role of Russia with the physical gold market.

And with China also stepping up to the plate, it does look like the end is near for the cartel’s manipulation schemes which serve to protect the US dollar as the world reserve currency.

Stack accordingly…

– Half Dollar