Russia September Gold purchases hit best since Oct 2016

(October 25, 2017 - by Scrap Register)

MOSCOW (Scrap Register): Russia’s central bank last month purchased the most gold in nearly a year, reported Commerzbank.

By its own account, the Russian Central Bank (CBR) topped up its gold reserves by 1.1 million to 57.2 million ounces

in September, Commerzbank added. As such, the CBR purchased a good 34 tons of gold last month.

According to the World Gold Council, the CBR bought 129 tonnes of gold in total in the first eight months of the year.

Thus, the September purchases reported by the CBR were the highest since October 2016.