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Russia Raises Gold Holdings By Over 7 Tonnes In February To Over 1,040 Tonnes
From GoldCore
Russia Raises Gold Holdings By 7.247 Tonnes To Over 1,040 Tonnes In February
Russia has increased its gold holdings by 7.247 tonnes to 1,042 tonnes in February. Turkey and Kazakhstan also raised their bullion reserves, data from the International Monetary Fund showed today.
Turkey's gold holdings rose 9.292 tonnes to 497.869 tonnes, the data showed.
Many analysts are ignoring the important context of today's new geopolitical backdrop. Russia alone has some $400 billion in foreign exchange reserves - mostly in U.S. dollars. If they were to diversify just 5%, worth some $20 billion, of those reserves into gold - it would be equal to nearly 500 tonnes of gold or nearly 25% of global annual production.
Demand By Country (GFMS via Thomson Reuters)
Russia bought another 7.247 tonnes of gold in February. It will be interesting to see what Russian demand is in March and indeed in the coming months. Sanctions could lead to materially higher demand from the Russian central bank, Bank Rossii.
This would cause a material strain on the already fragile supply demand dynamics of the physical gold market. The possibility of a default on the COMEX gold exchange would become more likely, with a consequent surge in the cost of gold coins and bars and a difficulty of securing physical gold either in allocated gold accounts or for delivery.
Hong Kong's net gold exports to China jumped 25% in February after a small drop in the previous month, data showed overnight.
Net gold exports to China from Hong Kong rose to 112.31 tonnes from 89.75 tonnes in January. Total gold exports rose to 125 tonnes in February from 102.64 tonnes in the previous month.
China imported about 1,158.16 tonnes from Hong Kong alone in 2013, more than double its 557.48 tonnes in 2012, according to data from the Hong Kong government.
China, the world's biggest gold buyer, does not publish trade data for gold and there is the possibility that demand was even higher.Official sector demand from the People’s Bank of China is not declared and is not reflected in these figures. Nor are direct imports into other cities such as Shanghai from gold producing nations and countries that have seen rising gold exports in recent months such as the UK and Switzerland.
This has been due to large London good delivery bars (400 oz) being shipped to Switzerland from bullion banks in London to be refined and cast into smaller kilo bars for the Chinese and Asian market.
The numbers from Hong Kong, a main conduit for gold into China, give an indication of Chinese demand for gold but should not be relied on solely as there is clandestine importation of gold into China in recent months and years.
The People's Bank of China is widely believed to have engineered a sudden and sharp fall in the yuan in recent weeks to punish speculators who have seen the currency as a one way appreciation bet. The yuan gained some 30% since 2005. Thus, Chinese retail buyers have pulled back and demand has fallen in the short term.
However, it is important to realise that there is more to Chinese demand than the so called “Chinese aunties”. Ignore noise regarding fluctuations in short term demand for gold and focus on the big picture quarterly and annual Chinese gold demand data which we believe will continue to be very positive.
This is especially the case given the increasing risks emanating from the Chinese shadow banking system, the Chinese property market and indeed the Chinese banking system with localised bank runs being seen in recent days.
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If we knew how much they bought outside these statistics we would be surprised
Prices are sure to fall with all this demand.
Maybe Russia will borrow us some so we can give it back to Germany.
"Prices are sure to fall with all this demand." - LOL, Krugman is that you?
Look, if we really wanted prices to skyrocket, all we would have to do is ask the government to subsidize it...
Yeah, sell gold in the POT Shops...Great Idea.
I hope Russia bought their gold at 8:40 each morning...because that's when it's on sale.
Where the fuck is this physical even coming from ?
^^^this is what I would like to know.
It is those tool's gold, who entrusted for safekeeping that pesky ancient relict to any bank's allocated/unallocated gold pool in the western hemisphere. Safety box content will be gone only by the coming lockdown.
Grain by grain, gram by gram, ounce by ounce. Every day a little more gold is bought up. Eventually whomever is selling the gold will run out.
The world's largest gold mine per alasdair macleod is located in london and they have been turning out metal like nobody's business. they must be high grading.
L.O.L.
Zerohedge reported from Bloomberg that about 26 million oz have been removed from London vaults and shipped to Switzerland and then recasted to Shanghai and Hong Kong. Unimaginable amount...
IMF plundered Ukraine....now they owe Russia the gold....Couriers are making a fortune ferrying this traditional relic around.
"A gold bar in every pot" - I like it...
beats golden pot in every bar I guess.
of course price is falling becouse there is only one buyer - east
Yeah. There are ONLY 2.5 Billion people in China and India.
Our 325 Million are much wealthier (*cough*,*choke*, *gag*) and do not care about that barbarous relic.
I would much rather have those limited edition Serial Numbered Prints of dead former Caesars and Statesmen issued by the US Government. Who cares that ther are Millions upon Millions of them. (Most of them are just digital representations of them like Bitcoin.)
The prints are good as you can WIPE YOUR ASS with them BEFORE handing them to the clerk at the Fast Food Restaurant.
Thank God for Fight Club as it demonstrates the age old fashion of pissing in the soup.
Since someone junked this...
I flushed my morning Obama I am now going over to the Fast Food place across the street.
Just don't order the clam chowder.
Gold bidding war between Russian and China and India in the near future maybe?
Keep stackin' the phyzz, folks!!!
http://www.youtube.com/watch?v=yKN4P_Y7yhA
C´mon Vlad...2 billion in physical silver, and 8 billion in physical gold, paid for with cashed in T-Bills and you´ll have Obama, the EU, and Yellin...all of them...by the fucking gonads! CHECKMATE!
7.2 tons ($340M) is nothing special, not even newsworthy.
Bill Gates or Larry Elison probably have more than that at home.
You believe their numbers? Russia/China has 10 to 20x the stated numbers. Gold via HK is like the tip of the iceberg. Its like looking at the Rothschild's wealth, they pretend they wasted all the $$$, but in reality they are the wealthiest people on the planet. We are talking of wealth in the T's.
So we should believe your numbers instead......?
Or you can believe this fucking nonsense and propaganda from the analysts from Citi and TD.
http://www.kitco.com/news/2014-03-25/Lack-Of-Gold-Rally-On-Iraq-Purchase...
I don't believe any of it, from anywhere.
I'm a stacker, I don't care what the paper or physical price is, along with not bitching about it either way.
I know what my stack is worth, and that's all that matters.
I give zero fucks about how much MONEY whoever has, or how they got it. They didn't get it from me without giving me something in return.
Easy bro....not meant as a shot at you. I happen to agree with you, most of the numbers being thrown around make no sense to price action or supply/demand at all.
Therein lies the rub....good luck and best wishes.
Oh yah, I didn't take any offense.
I know who you are and your reputation. All upstanding as far as I'm concerned
And you as well
When Putin is sure he has more gold than the USSA, he will put it on open display for all Russians (and the world) to see. Then he'll pose an open question to the world, “Why does the USSA not show its gold?”
That's nothing, the U.S. added 33 tons to it's gold reserve in March.
http://www.4thmedia.org/2014/03/26/the-latest-heist-us-quietly-snatches-...
The Federallies are trying to suppress the price of gold, Natgas, grains... to show those Rooskies whose boss, exactly opposite is going to happen. Hold that beach ball underwater all you want, its going to rip your face off on the way out anyway.
Fed and treasury believe in a 'strong dollar'... We know cause they told us so... and they don't 'understand gold' cause Ben said so... They just keep piles of gold around cause it's 'tradition'... a 'relic'... They didn't say 'insurance' in case this paper experiment blows the hell up!
For a hundred years the Fed has worked their asses off to wipe gold from the collective memory the people in the world.
They almost pulled it off.
They never even got close with Indians.
Impressive white space bomb.
Hold that beach ball underwater all you want, its going to rip your face off on the way out anyway.
I was hoping that it might follow the path of most resistance and shove their Testacles right through their brain. But that only happens with building collapses.
That went straight from the NY FED through the tunnel to the Chinese JP Morgan building vault.
@ Bad dog, very informative, thanks for linking.
Gold Core continues to ignore Koos Jansen's data for China.
http://www.ingoldwetrust.ch/chinese-gold-demand-488-mt-ytd-up-29
did Russia also buy the S & P? Vladimir Vladimirowitsch did def his best.....and did so
0830 smackdown, on schedule.
although the trend seems to be to start the 830 smackdown at 8:15-ish now. I know...it's so hard to wait when you are so excited about your work.
It's so predictable that easy money can be made on this.
Thinking their predictability of smashing in the middle of the night let others get in on the fix action so they changed their MO to 830AMish. A moving target is harder to hit.
yep its gone nagetive again
So all these central banks are still buying Gold because Goldman Sucks says it's going to drop in price this year. Makes sense to me. Buy hi sell low must be a secret market tool.
Turd explains recent gold price action. Keep an eye on GOFO and the pattern that Turd has identified:
http://www.tfmetalsreport.com/blog/5595/again-isnt-complicated
Original post from March 1st explaining what he may have discovered: Negative GOFO and Rising Gold Prices
http://www.tfmetalsreport.com/blog/5530/negative-gofo-and-rising-gold-prices
So keep an eye on GOFO going into April. Once it turns negative again and if Turd's pattern stays on track then after the next low of around 1280 or so then GOFO should go negative and we should see paper prices rise back up.
Not withstanding the usual bullshit of Geo-political and weather-related issues, of course. You know how snow and cold air causes gold and silver prices to crash and all that, right? lol /sarc ;-)
If you are a stacker and not a "trader" don't read my next 2 sentences
Everyone listening to Turd for the last year or so hasnt made a dime. Smart guy, knows his shit, does his research, and has a great network of insiders, but he and the echo chamber he commands are fighting forces they cannot predict or control.
well, like you said...if you're a trader then of course you probably havnen't made a dime. I'm a stacker, so I don't care much about getting into the paper trading "game".
But if you've done as Turd has recommended and followed the expert trading services of Andrew Maguire then you've done excellent. Andrew's trade service is openly advertised and published on Turd's site and Andrew is up $140,000 since he started his service nearly exactly 2 years ago.
But that kind of trading is for people who know what they're doing and can risk the severe manipulation that could cause great loss of fiat. And Turd never claimed he could guide people through that kind of mess like Andrew Maguire can.
I can't say that many other PM experts can say they've done any better at predicting the crazy criminal manipulations of the Fed, Crimex, and criminal banksters.
Nobody could have predicted the shit they've pulled on us and gotten away with over the last 3 to 5 years. It's insane what they've done, and Turd has never claimed to know what they're doing. He's only been trying to pass on knowledge, give access to as much knowledge as possible via his excellent website, and he's tried to use TA to try and explain PM's to us newbies and to figure out ways to predict what the cartel might do.
But above all else the mantra has been to stack accordingly, BTFD whenever possible, stack on a regular basis whenever possible, and Turd has always told us to stay away from the paper game if we don't know what we're doing and can't afford to lose extra fiat that we could be putting towards PM stacking and other supplies.
And hey, we don't just go by everything Turd says as gospel...that's just crap that haters say. A lot of excellent, knowledgeable, and helpful people post a lot of great information on mainstreet of tfmetalsreport. And if you haven't gone into the vast forum rooms where other people have set up places specifically for trading mining stocks and other commodities then you're all missing out on tons of great information. More than you would ever find here on ZH. Nothing bad against ZH, but the site just isn't set up the same way as a site like TFMetalsReport is.
I come to ZH everyday all day to get news of this nature that I really don't find anywhere else all in one place. But TFMR is a whole other excellent place to talk about PM's. And ZH gets a ton of exposure there as well because most "Turdites" are also loyal and long time "ZH'ers".
I don't currently pay the 10 bucks a month for the vault services...but I had a 6 month "freebie" up until Jan. 1st, and I'll tell you that the daily podcasts, weekly Access 2 Access or "A2A" interviews Turd does with top level people in the business are excellent. It is well worth the 10 bucks/month for sure.
And now that Turd offers silver rounds through special deals with other mints, if you buy at least 20 ounces a month via TFMR you get a 10 dollar discount which then pays for the monthly 10 dollar membership to the vault access side of TFMR.
The site has been an ongoing project that has grown and changed and evolved very nicely over the last few years. I think Turd deserves a ton of credit for what he's put together at TFMR and for having been able to establish such great relationships with the Turdites and with the contributors who you usually only hear on King World News or Youtube, etc.
Any new ZH'ers who haven't heard of TFMR should check the whole site out and at least read mainstreet each day. Create a profile and join in on the daily discussions on mainstreet...it's a great place to chat with stackers and preppers and get some great analysis and interviews, etc.
http://tfmetalsreport.com
My problem with TF is that he charges a fee for information that can be gained by a little self education and investigation. So his paid service is for lazy people? If you're lazy in these economic times you're doomed to failure anyway.
nah...that's not it at all. You're just generalizing because you don't like that part of his site is paid now. He gives a ton of great information...maybe someone could find all kinds of things all over the internet, but they wouldn't find the access interviews he does all the time. You don't have to pay either...the vast majority of the site is still free. And when Turd has really important information or podcasts he will provide them for free and not keep them exclusively behind the pay-wall. So give him credit for that.
Besides...if you don't think running a site like his is cheap then think again. It's very expensive and a lot of people enjoy and depend on the site now. It's also a community, so many people do want to contribute. I've contributed quite a lot of my fiat in the past just as donations before it went to a partial pay site just to help him keep the site up and running.
He spends a shit-ton or "Turd-ton" of time on there and I think he not only deserves the credit but also to make some profit as well for what he has created and for what he provides.
Lazy??? C'mon...cut some slack there, man...be fair. And it's not like he's forcing anyone to pay. Remember, they do it of their own free will. Just becauase you don't want to pay for access to part of the site doesn't mean you can't use the free side, right? Or does that make you and everyone else who doesn't pay a leech or a mooch???
Ya see how that works both ways? :-)
To be honest I've been to his site just a few times and the free stuff is just a repeat of what I've already read elswhere. For that reason I haven't even bookmarked it. See how that works?
yeah, I see how that works for you...you're an ignorant complainer. If you never gave a crap about the site in the first place and know nothing about it from the very beginnings when it was just a blogspot site that only a few of us started out with then you don't know or understand shit about it. So what do you care one way or the other how Turd runs it now? Apparently you know everything already anyway, so quit your bitchin' and don't worry about it.
I see now how you've made such an excellent point by name calling.
yup...you made it easy.
So did you know that Andrew Maguire is currently providing a free webinar on gold and silver paper trading right now from 11 to 12? This was provided for free by Turd a few minutes ago on his site.
Maybe you'll learn something and maybe you can thank Turd and Andrew since they aren't charging big big big $$$'s for this information that I'm sure you already know about already.
here you go Submitted by Turd Ferguson on March 26, 2014 - 10:59am. MODERATORStarting now.
https://www4.gotomeeting.com/register/617519175
Agreed. I do better by myself & share the information freely on http://flic.kr/p/f17z1s Flickr, once upon a time on youtube but I find that less efficient for my time & everyone else's. Slides will do fine with text descriptions.
As a matter of fact leading into the 2011 spike then drop, I did predict it, http://www.youtube.com/ytgv3fc7
I didn't call the sudden drop in 2013 April but that's because the entire multi-year pattern was shifted.
Now it's following a log-date-scale repeat of 2008 to 2011. So you compress the date & price scale using the log function then plot the rate of change to determine the repeating pattern, new prices & dates, and a little volatility analysis should find you a healthy 95% confidence interval.
The West is busy desperately trying to get their -- tungsten enhanced -- gold back from the USSA in some reasonable time frame.
I am suprised they have not done more buying....from all their talk against the West...why hold any US dollars as a reserve...I know trade..but as soon as I was paid for my oil..I would buy the gold...
"..but as soon as I was paid for my oil..I would buy the gold..."
I don't believe much Russian mined gold is getting out of Russia.
A year or so ago Alasdair Macleod interviewed a large gold refiner. The refiner said that they occasionally receive Russian gold but never Chinese gold. The way the refiner put it led me to believe that what Russian gold they receive was probably smuggled out of Russia.
Here is a link to the interview... entitled 'lets get physical'...
http://www.goldmoney.com/research/videos-and-podcasts
Our banks are shorting it so that the other countries can pick it up for pennys on the dollar.....
http://www.ingoldwetrust.ch/jayant-bhandari-indians-are-desperate-for-go...
he who connects his fiat to gold first WINS.... will it be china or russia
if we keep toying with the house of saud we may have to occupy the underground airbases and facilities there to "liberate" the oppressed oil... after the sauds demand gold for oil... no mo petro dolla.... how about a $10,000/bbl oil price or 0.076 ounce of gold
soon as paki delivers a half doz or so nukes to the ragheads it will get real fun....
russian navy in havana, russia/iran/venezuela uranium j.v., iran oil to chna for gold.... all ignored by shit for brains....who "worries about nyc getting nuked"... hey if ny gets it you can bet your ass DC will get it too, asshole.
"he who connects his fiat to gold first WINS.... will it be china or russia"
Why not the entire SCO plus the BRICS?
Together those two orgs represent well over half the worlds population.
The BRICS have already started a 'development bank'... which will directly compete with the IMF, BIS, world bank, et al.
BRIICS - soon to include Iran (and possibly Iraq)
golden rule: he who has the gold, rules
East has almost all the gold
West has paper
West is fucked
We have certainly seen the effects of algorithm driven trading, where the algo attack not just one thing, but manipulate currency, futures, stocks, etc all at the same time to drive the prices where they want - often using just paper or naked positions. We should fear the day when Russia and/or China go after our markets - not using electronic paper - but by using their "real" holdings of US Dollars, gold, US Treasuries, etc.
There could be zero physica gold available on the market and the Criminal cartels and Fed will still have gold at record lows.
The banksters, LBMA, BIS etc are there masturbating over paper pictures of gold...whilst the rest of the world gets the real thing. When one day nobody wants their sodden paper.....to get the real thing will cost them and arm and leg.
obama says you can make gold out of aborted fetuses.... they burn them in uk hospitals to stoke the furnaces and cut expenses... will aborted fetus be the new renewable energy we are all lookiing for?? is that why we encourage child production by the EBT obamaphone crowd??? must be... see... he is the messiah and genius after all... maybe we can draft the wookie to run and that way we can keep access to his genius... libtards were right after all....
I get depressed when my out of college yearly salary (1993) could have purchased more gold than my current yearly salary. Not by much, but its true.
I graduated college in 1981 and good software engineers were getting $100/hr. I'm still not getting that and my job is in incredible demand.
I hear ya... My company has frozen raises for two years but Healthcare costs are rising. So over the last few years, my take home pay is going into reverse. At this point, I'm just thankful for what I have, while waiting for the other shoe to drop..
Thankfully we have $2 gas and basic food staples haven't seen a dramatic rise in prices. Yes we can.
I'm moving to where u live Hayek... is this Joe Dirt's Silvertown?
I graduated HS in 73. I get up in the middle of the night with a pair of reachers and a 5 gal. bucket and pick up trash in parking lots, change a few trash liners, blow a few leaves, take a few stickers off or acetone some graffiti and I'm home before the stock open. Maybe you should do a job most people think is degrading and low pay?
Yes, I won't work for less than $100 an hour. It's part time but hey, I'm old, obese and stupid > wink wink
Gold Bitchez....
"Maybe you should do a job most people think is degrading and low pay?"
Been there and done that and will be fortunate if I don't have to do it again before I die. Sad to hear that's where you are now. I'm right here with you stackin.
95k last year before my $500 in bottles and cans. Don't feel bad, encourage peeps to drop more trash :)
Somebody has to do it.
Putting MORE physical in the hands of long term holders so EVERY ounce helps, including the 3 lovely shiny Brittanias that I bought yesterday.
the only thing finer than an 0830 smackdown is a 920 smackdown.
"This would cause a material strain on the already fragile supply demand dynamics of the physical gold market. The possibility of a default on the COMEX gold exchange would become more likely............."
G, where have I heard this before.
I don't care so much about the phyz price, but get really sick of this meme parroted over and over and over and over and over and over
Polly is getting really sick of this cracker
COMEX cash settles or rolls over - plenty of paper to dole out - will never "default" - the only thing COMEX can do is fade away when people no longer desire paper - if they want metal then there are other markets to buy metal - Shanghai, etc
100% with you on that - I've been hearing about a pending Comex default for years now, and having seen the imbalances that have never materialized into problems, I can only conclude that 99% of the people reporting on it don't have a fucking clue what they're talking about, and that there are plenty of behind the scenes channels for settlement that make watching Comex inventories a pointless waste of time.
And how many more times will King World News publish Andrew Maguire's breathless stories of the pending LBMA default - 'they just wiggled out of it this time but it can't go on for much longer'. Fuck, it's not even entertaining anymore, let it go Andrew.
I visit KWN on occasion when I need some comedic relief.
'they just wiggled out of it this time but it can't go on for much longer'
Yeah, but, he REALLY meant it this time!
It probably will happen (unless the whole Yamashita's gold thing is true) but Christ knows when.
Indeed. I download the mp3's but stopped listening months ago.
I thought I'd get back to listening but given time constraints & actual measured benefit of anything I may do with my time it hasn't qualified.
if more months go by I'll erase what I've downloaded. I read the market on my own without their assistance & I predict it better too, for myself.
"to 1,042 tonnes"
they have over 20,000 tonnes
like china
Yeah? Let's see how many tons they get their hands on in March with the Crimean "crisis".
You guys just wait, 'Obama to Brand Putin a Menace'
http://www.theguardian.com/world/2014/mar/26/obama-putin-menace-threat-s...
Everything is about to be fixed.
Interfax
news line:
18:42 - S&P revises outlook for Bank ROSSIYA to 'negative'
18:13 - S&P downgrades VTB rating outlook to 'negative'
18:06 - S&P downgrades Bank of Moscow rating outlook to 'negative'
18:05 - S&P revises oulook for Gazprombank to 'negative'
They didn't have that weapon during the first Cold War.
I have silver coins look like that but not THAT one. That is coin porn!
It's funny watching gold get slammed to 1300ish. I can hear Yellen wailing, "Break that golden cross! break it!"
Time for another monthly updated...
Gold Price Prediction Chart!
Today Russian news agency RBC said Russian Central bank decreased price of gold and silver coins it sells to banks (and tgey sell to people) gold from 12643 roubles to 12471 , for a 7,78 gram (1/4 ounce) coin. And it is despite Rouble fell agains dollar for more than 10% since beginning of the year. It seems Russian authoritues encourage demand for gold from population.
Thank you for that information. It is very good to hear what is going on with gold in Russia.
Using Koos Jansen's number for China instead of GoldCore's and adding them all up, total world demand for 2013 comes to about 4765 tons or nearly double global mine production. That means the "mines" in London and NY produced an incredible amount.
Meanwhile, the prices of paper gold and silver continue to become sillier.
The manipulators have shown time and again that reality has zero effect on the price.
People claim the manipulation will come to an end some day. I'm not so sure. Why would it?
No facts - no matter how stark - have impinged on the continued theft.
SERIOUS QUESTION:
Does this increase in gold reserves in Russia and China refer only to IMPORTED gold or to ALL gold (imported and domestically produced)?
I ask because Russia produces a hell of a lot of gold domestically.
Thanks!