Russia Becomes Globe’s Top Buyer of Gold Bullion, Boosting Reserves

Sputnik News
Original source

The Central Bank of Russia became the world’s leading purchaser of gold when it bought 356,000 ounces of the precious metal in February, according to the International Monetary Fund (IMF)


At least 356,000 ounces of gold were bought by the Central Bank of Russia last month, making it the largest buyer of the precious metal among the world’s central banks, an IMF report said.

China took second place; its Central Bank purchased about 320,000 ounces of gold in February, according to Chinese Central Bank officials.

Meanwhile, it was reported last week that between March 11 and March 18, the value of Russia’s gold reserves rose by $5.8 billion, from $381.1 billion to $386.9 billion.

© Flickr/ Bullion Vault


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