Russian Gold Reserves Surge Above 1900 Tons - 5th Largest In The World

Authored by Louis Cammarosano via smaulgld.com,

Russian Gold Reserves

After adding 6,700,000 ounces (208 tonnes) of gold to her reserves in 2015, the Russian Central Bank added 6,400,000 ounces (199 tonnes) in 2016 and another 224 tons (7,202,000 ounces) in 2017.

The Central Bank of Russia ended 2016 with 1838.21 tonnes of gold on their balance sheet.

Central Bank of Russia added 7.2 Million ounces (approximately 223.945 tonnes) in 2017.

Through April 2018, the Central Bank of Russia has added 2.3 million ounces or approximately 71.54 tons of gold.

The chart below shows the Central Bank of Russia’s Gold Reserves by month with tonnage rounded to the nearest metric ton.

The Central bank of Russia has added about 628 tons of gold to her reserves from June 2015 – to March 2018.

Since 2009, Russia has added over 1,100 tons of gold to its reserves -  more than China who added about 775 tons during the same time period.

Russian Monthly Gold Purchases June 2014 – April 2018

Russia has added 26.7 million ounces (approximately 830 tons) to its reserves from June 2014 through April 2018.

Russia Adding Gold To Reserves At A Faster Pace Than China

From March 2016 to May 2017 China added 45 tonnes of gold to its reserves, while Russia added 246 tonnes, or 447% more.

The People’s Bank of China’s gold reserves as of September 2017 are at the same level as of October 2016. The Central Bank of Russia added 7.6 million ounces (236.39 tons) of gold from October 2016 to September 2017.

Russia has added about 122 more tonnes of gold to its reserves than China from November 2015 – November 2016.

Rubles For Gold

Increasingly, Russia has been buying up more of their gold mining production, in effect converting rubles into gold.

The Russian Central Bank announced that it would begin buying gold on the Moscow Stock Exchange.

Russia is retaining an increasing percentage of its gold mining output.

Russia has the fifth largest gold reserves of any nation.

Overall Russian Reserves

The reserves of the Central Bank of Russian have grown over $89 billion or about 24% since January 2016.

Gold represented about $81.146 billion of Russia’s overall reserves at the end of April 2018, or about 17.6%.

Overall Russian Central Bank foreign reserves grew approximately 24% since January 2016.

Russian U.S. Treasury Holdings

Russia’s U.S. Treasury Bond Holdings 2014 – 2017

The Russian Central Bank has increased its US Treasury reserve holdings selling off a good portion of them in the summer of 2015.

As of March 2018, Russia held $96.1 billion in U.S. Treasury Bonds down from $131.8 billion in January 2014 but up from $66.5 billion in April 2015.

Further reading on Russia’s gold production: Russia’s VTB bank to supply 15-20 T of gold to China in next 12 months Russia to increase gold production