Russia

It’s no secret that Russia has been stacking the shiny phyzz for years, and here’s a glimpse showing exactly how they stack . . . .

The Russian economy appears to be in a far better state than that of the USA. The country’s economic management seems to be comfortably better than most Western economies . . . .

One of the most notable events in Russia’s precious metals market calendar is the annual “Russian Bullion Market” conference. Formerly known as the Russian Bullion Awards . . . .

As we reported both here and here, gold is the answer going forward. How we the people will access physical gold or if we will be able to access physical gold is really the only remaining question . . . .

Last week Russia’s Central Bank First Deputy Governor Sergei Shvetsov said Russians own gold bullion and their central bank is adding to its gold reserves in order to “beef up national security" . . . .

Russia’s Far East Development Fund and China’s state-owned gold mining company, China National Gold Group, are to sign an accord by the end of this year on setting up a joint US$1 billion investment fund targeting new projects in the metals and mining sector . . . .

The Central Bank of Russia added 63 tonnes to its gold reserves during Q3. Year-to-date, the Russian Central Bank has increased its holdings by 164 tonnes . . . .

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 . . . .

Russia’s central bank last month purchased the most gold in nearly a year, reported Commerzbank . . . .

The Central Bank of Russia has recently been buying bullion at an unprecedented pace. According to Argentine financial expert Gabriel Rubinstein, this policy is aimed at protecting the Russian economy in the event of crisis situations, including against dollar-related "manipulations" by the US . . . .