Apr 24, 2019

Russia Continues Buying Gold

The Russians bought more gold last month as they continue to try to minimize exposure to the US Dollar.

"The Central Bank of Russia added another 18.7 tons of gold to its stash in March according to a press release last week. This boosts the country’s gold reserves to 2, 167.9 tons or 69,700,000 ounces. Gold now makes up about 18% of the Russian central bank’s reserves."
- in Schiff Gold

“Vladimir Putin’s quest to break Russia’s reliance on the US dollar has set off a literal gold rush.” 
- in Bloomberg

Related trading instruments: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ)

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