DELIVERY PAUSED - COVID-19: Due to disruption with couriers, we are not currently dispatching new orders. You can still order to lock your price, and choose either storage or deferred delivery when normal shipping resumes. Click here for our latest operational update

Open menu Close menu Menu
Open charts menu Close charts menu Charts

Call us: 0121 634 8060, 7 days, 7am - 10pm

Free Insured Delivery

Ounce Gram
Gold £1275.53 £41.009
Silver £11.271 £0.3624

Updated 14:54 01/04/20

£ $

Russia and Kazakhstan increase gold reserves


Adam Pike, News Editor
26 Aug 2014, 10:31 a.m.

The Central Banks of Russia and Kazakhstan both increased their gold bullion reserves in July according to data released by the International Monetary Fund.

Russia increased their reserves by 6.3 tons to 1,002.8 tons. Russia’s Central Bank holdings are now the seventh largest in the world. Kazakhstan increased their holdings by 1.1 tons to 132 tonnes. Both Central Banks have now increased their holding for ten consecutive months.

Many Central Banks in developing countries have increased their gold bullion holdings over the last few years as a response to expanding sovereign debt and the debasement of major reserve currencies such as the Yen, U.S. dollar and the Euro.

The Central Banks of Guatemala, Kyrgyz Republic and Azerbaijan all increased their reserves in July.

View original source at: www.nasdaq.com

comments powered by Disqus