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Posts Tagged ‘Russian Gold’

Why Russia Is On A Gold Buying Spree

Why is Russia engaging in this gold buying spree when it likely has more immediately gratifying ways to spend its reserves? Dmitry Tulin’s answer: “As you know we are increasing our gold holdings, although this comes with market risks. The price of gold swings, but it is a 100% guarantee from legal and political risks.”

Russia Buys Most Gold In Six Months, Continues Selling US Treasuries

The rumors of Russia selling its gold reserves, it is now clear, were greatly exaggerated as not only did Putin not sell, Russian gold reserves rose by their largest amount in six months in December to just over $46 billion. On the other hand, there is another trend that continues for the Russians – that of reducing their exposure to US Treasury debt.

Russia Busts Gold Selling Rumors, Reports Buy Of 600K Ounces More

As if to deter further speculation that Russia is indeed converting hard money earned from real resources for fiat paper, the Russian monetary authority made it quite clear, that at least in November, Russia not only did not sell any gold, but in fact bought another 600K ounces. However Russia sold some $8 billion in US Treasury holdings in Oct.

One Of Largest Russian Gold Miners On Verge Of Bankruptcy

Russian gold producer Petropavlovsk, was valued at more than $3 billion four years ago and was a potential candidate to move into the coveted FTSE100. But today the firm is now worth just $60 million and is in a perilous financial situation, with speculation it may even default on $310 million in convertible bonds in February.

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