Russia Buying Gold at Record Pace

ArticleChange of moneyNovember 13, 2017 - 2:55:31 AM

Russia has been expanding its gold reserves at a record pace, according to information from the World Gold Council (WGC). Russian business newspaper Kommersant suggests this gold rush will give Russia guarantees against sanctions and economic and geopolitical risks.

In the third quarter of 2017, the Central Bank of Russia bought 63 tons of the precious metal, bringing its gold stockpiles to 1,778.9 tons as of the end of September.

Source:Sputnik News

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