Russia Busts "Gold-Selling" Rumors, Reports It Bought Another 600,000 Ounces Taking Gold Holdings To New Record High

Tyler Durden's picture

Yesterday, when we reported the latest rumor of Russian gold selling, this time out of SocGen, we said that "it should be noted that SocGen and its "sources" have a conflict: in an indirect way, none other than SocGen is suddenly very interested in Russia stabilizing its economy because as we wrote before, "Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet" which also sent SocGen's default risk higher in recent days. So if all it will take to stabilize the RUB sell off, reduce fears of Russian contagion, and halt the selloff of SocGen stocks is a "source" reporting what may or may not be the case, so be it."

Moments ago, 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 in the month of November.


So we can now add another 600K to Russia's most recent holdings:

Which of course means that the very "Russia is selling" rumors that were so effectively used to keep the price of gold low into the recent risk-flaring episode, were capitalized on by the very same Russia, which we do however know sold some $8 billion in US Treasurys in October bringings its total holdings of US paper to the second lowest since 2008...

... and which used these same low prices not to sell, but to buy. At the lowest prices possible.

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Latina Lover's picture

As I said earlier,  if Bloomberg and Society Gen. are telling you to sell gold, it means that their billionaire buddies and bankster pals need to cover their shorts.  No wonder they hate Putin. He will not play their game to screw everyone else in favor of their tiny clique.

USisCorrupt's picture

This is just to Shocking for me, how can some just outight Lie?



winchester's picture

société générale....



remain calm's picture

Putin, "Fuck You SocGen, you cocksucking liars"

GetZeeGold's picture



Wow....when did they get promoted?

Jeff the Terrible's picture

Putin doesn't want to collapse the western world per se. He wants reasonable customers for trade. He does however want to stop the US monopoly of the US dollar to enable true free trade.

Save_America1st's picture

BEARISH!  Wait for the dip in 3...2...1...

Then buy that shiny for sale item and wait for it to drop again.  Wash, rinse, repeat.

Your stack and your future will thank you down the road after all this shit blows up and collapses.

I recommend small fractional silver too.  90% (even though the premiums are off the charts) and small gold like 1/10 AGE's, etc.

Having a good amount of small stuff will be very good to have after the SHTF.

Arius's picture

yeah well cant blame them for trying ...

nice pick though have some french take the blame; someone must be in a hot seat this morning at SocGen ...

those nasty russkies ... why couldnt they just shut the fuck up like the chinese do, and let us deal with our sheep

strannick's picture

Fuckin A.


Putin has more in common with Thomas Jefferson, Andrew Jackson and Ron Paul than the White House and all of Congress. 


BurningFuld's picture

I thought it was bull shit. The only problem the USSR has is the USSA and the USD. Last fucking thing they would do is sell their fucking GOLD.

Patriot Eke's picture

What's the lower oil prices doing here too?  It's putting Western oil companies out of business.  One has to wonder if this is just another part of the trap.

HenryHall's picture


So Russia sold some US dollars and used the money to buy gold when the price was low. What a shock! Who would ever have guessed they were doing that?!

BaBaBouy's picture

SOCK Gen: We Made Another Mistake, Folks ...

Manthong's picture

Every Fed official/governor needs a 400 oz. bar shoved sideways where the sun don’t shine.

Supernova Born's picture

Claws and teeth intact, bitchez.

7.62x54r's picture

"I'm shocked, shocked, to hear that gold buying is going on here!"

James_Cole's picture

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 in the month of November

angel_of_joy's picture

Well, that didn't take long... less than 48 hours from the first Bloomberg turd.

Fun Facts's picture

Americans are currently living under ZWO occupation, and this needs to be understood.

The country is being gutted, looted, and transformed by the ZWO. The entire politico body are sycophant puppets with media created left/right personas, and the polls are rigged with no audit trail.

Six media corporations control 96 percent of what Americans see on TV, watch at the movies, read in print media and hear on radio in what amounts to 24/7 non stop ZWO lies and propaganda geared towards one end.

You living as a serf in a police state with no rights and no freedom. That's the ZWO agenda.

noben's picture

-the ZWO

GubbermintWorker's picture

The premiums are way too high for the 1/10 AGE's! I prefer the French 20 Francs and the Mexican coins, especially the 20 Pesos!

cheech_wizard's picture

I'm stacking ammo. Your gold had better be hidden well because all you need to do is read any paper around the globe to know that when the thin veneer of civilization comes off, it's going to get ugly quickly.


GubbermintWorker's picture

Yeah, I'm stacking food, fuel, gold, silver, lead, and lead devilery systems.

s2man's picture

How many gun fights do you expect to win?

fightthepower's picture

So you are a no good fucking thief?  Fuck you!  Hope you end up shot. 

cheech_wizard's picture

Did I personally say I was coming after your gold? No. I could care less about your "precious".

Did you somehow not read that the second sentence in my statement was more of a personal observation on the world about us? 

Next time I'll word things more carefully for the demonstrably slow-witted.


Bollixed's picture

I don't think that's what he was implying. More like - The first time you're desparate enough to flash some gold for needed goods you open yourself up to unwanted attraction. Gold is a good way to bring your wealth to the other side, but not a good mechanism for trade during periods of unrest.

When word gets around...

7.62x54r's picture

Use jewelry gold for purchases. You can get chains with one-tenth ounce links you can cut off.

A man trading bullion for goods is a target. A man selling bits of his mother's jewelry is just pitiful, and looks desperate.

Bollixed's picture

Yes, been my plan for years. That and junk silver.

BobPaulson's picture

Thread following protocol at ZH doesn't exist. People just reply to the most recent post. It makes it hard to have comment conversations. I doubt you would have much luck trying to change that.

fuu's picture

Jeff the Terrible, still pimping that Vegan cookbook video everywhere he goes. Such a good little comment bot.

Fun Facts's picture

Parties responsible for the propaganda. Feel free to make your sentiment known.


To contact the reporter on this story: Debarati Roy in New York at

To contact the editors responsible for this story: Millie Munshi at Steve Stroth


Twitter: @societegenerale

Board of Directors


nuke ISIS now's picture



"Lets rape our citizens comrades, lemme take cae of my former KGB friends, and allies, Hwhile we control the finncial wealth of Russia, as the brainwashed uninformed proloteriat suffers, doesnt matter comrades I got me an 80 pct Happroval rating, such imbeciles i stel from them but they love me, honly in get me the Stoli


Gee lets see what the Moscow Times has to say about your hero Putin

Newsweeks take

Maybe his interview with Tass?

Here is what happens if one dares to critisize Putin

Seems fairly cloe to a dictator folks, try to spin

wesson's picture

Word of advice: don't even try

(Un conseil, n'essayez plus ...)


Cacete de Ouro's picture

The bloomberg article was bullshit. It quoted a portfolio manager from some 2 bit $150m fund in NJ and some founder of in Tampa, then also some sell side schmuck from BoA Merrill Lynch about using the gold as collateral, and BoAML is known to want to lent against gold (Venezuela).

The SocGen piece was always bullshit. SocGen are one of the 4 gold fixers for God's sake and they are short central bank gold since they hold a shed load of gold deposits, even after getting gold bail out by BIS / Banque de France.

Fun Facts's picture

Once again Bloomberg exposed for the propagandists they are, working in conjunction with SocGen this time.

It's a noble deed to lie to the donkeys.