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Home>GoldWire>Russia buys most gold for reserves since financial crisis of 1998

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Russia buys most gold for reserves since financial crisis of 1998

Chris Powell

GATA

Published : October 29th, 2014

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FOLLOW : China Crisis Debt Gold Gold Reserves International Monetary Fund London Russia Switzerland

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	LONDON -- Russia boosted gold reserves by the most since defaulting on local debt in 1998, driving its bullion holdings to the largest in at least two decades. The country expanded its stockpile, the world's fifth-biggest, by 37.2 metric tons in September to 1,149.8 tons, according to data on the International Monetary Fund's website. The increase, valued at about $1.5 billion, was the biggest since November 1998. Russian reserves, which overtook those of Switzerland and China this year, almost tripled since the end of 2005 and are at the highest since at least 1993, the data show. ... ... For the remainder of the report: http://www.bloomberg.com/news/2014-10-29/russ...ld-for-reser...

Data and Statistics for these countries : China | Russia | Switzerland | All

Gold and Silver Prices for these countries : China | Russia | Switzerland | All

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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