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overtheedge
Member since May 2012
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Russia Buys 900,000 Ounces Of Gold Worth $1.17 Billion In April - Mark O'Byrne - gold.ie

"Last year we bought about 100 tonnes. This year it will be less but still a considerable figure," Shvetsov told Reuters at the time.

The Russian central bank has again increased its gold reserves by another 900,000 ounces worth $1.17 billion in April.
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900,000 ozt divided by 2200 ozt/mt = 409 tonnes.
Since when is 409 tonnes < 100 tonnes?
No doubt 409 tonnes is still a considerable figure compared to 100 tonnes.

Is something wrong with my math or did something get lost in translation?

Commented 3626 days ago

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Beginning of the headline :Today’s AM fix was USD 1,292.00, EUR 942.65 and GBP 764.81 per ounce. Yesterday’s AM fix was USD 1,291.50, EUR 943.46 and GBP 767.56 per ounce. Gold climbed $1.10 or 0.08% yesterday to $1,294.70/oz. Silver rose $0.03 or 0.15% to $19.42/oz. Gold is marginally lower today at $1,293.50/oz and remains in lock down in an unusually tight range between $1,287/oz and $1,306/oz this week. Gold in Singapore, which often sets the price trend in Asia, traded at $1,292.23/oz prior to a bounce to just over $1... Read More

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