– Russia buys 18.7 tonnes of gold bullion in March 2019
– Russia’s official gold holdings are now 2,150.5 tonnes which as a percent of foreign exchange reserves in gold is 19.1% (see table)
– Russia liquidated 85% of its US Treasury holdings in just two months in April and May 2018
– Russia dumped over $90 billion of Treasuries in April and May as holdings collapsed from near $100 billion to just $9 billion
– Russia sees gold’s role as independent currency and safe haven as is a “100% guarantee from legal and political risks”
– Russia and China’s gold buying is set to continue and may accelerate
Russia and it’s central bank added another 600,000 troy ounces or 18.7 tonnes of gold to its reserves in March according to the latest figures released in a press release by the Russian central bank on Good Friday.