Russia Surpasses China with Massive Gold Purchases in January

(February 22, 2018 - by Tyler Durden)

Russian Central Bank Gold Reserves Rise to 1,857 Tons in January,

Passing People’s Bank of China’s 1,843 Ton Gold Hoard. 

• Russian gold reserves are now the fifth largest in the world.
• Russia added 600,000 ounce of gold (18.66 tons) to reserves in January.
• Russia added a record 224 tons of gold to reserves in 2017.
• Since June 2015, the Central Bank of Russia has added over 576 tons of gold to reserves.
• Overall Russian reserves rose from $432.742 billion in December to $447.735 in January.
• Russian holdings of U.S. Treasuries top $100 billion for ninth in a row.

Gold reserves worth $80.4 billion constitute 17.95% of overall Russian reserves.