Russia

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 . . . .

The Russian Central Bank announced last week that its gold reserves had reached 56.1 million troy ounces (approximately 1,745 metric tons). The total included an additional 500,000 ounces (approximately 15.5 metric tons) of gold added in August . . . .

The largest Russian bank, Sberbank, is planning to increase the supply of gold to China up to 10-15 tons in 2018. Keeping in mind that both the Russian ruble and Chinese yuan are covered by gold, this step is a part of the “de-dollarization” of their economies . . . .

Not only are the Turks buying more gold at a substantially more aggressive pace than the Russians adding 950,000 ounces of the yellow metal in just three months, the purchases are also much more meaningful when you look at the bigger picture . . . .

Unlike the other big central bank buyer of gold, China, Russia is continuing to add to its gold reserves and reporting its increases . . . .

Many U.S. politicians believe the dollar is better than gold . . . .

This keeps Russia in sixth place among global national holders of gold after China in fifth, but closing the gap given China seems to have ceased to report monthly gold reserve increases since last October . . . .