Russia adds further 1 million ounces of Gold to the reserve in August
MOSCOW (Scrap Register): Russia’s central bank remains a noted gold buyer while China remains conspicuous by its absence, said Commerzbank in a snippet.
By its own account, the Russian central bank topped up its gold reserves by a further 1 million ounces in August, Commerzbank added.
This equates to purchases of 31.1 tonnes. As per 1 September, its holdings totaled 64.3 million ounces (approximately 2,000 tonnes).
A few days ago, the IMF had reported a similarly high rise in Russian gold reserves. Russia’s central bank thus remains the leading official buyer. By contrast, China has purchased no gold for almost two years now.