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.

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