Russia carries on buying gold

Just recently, news reported about Russia's purchase of gold. The country's gold reserves are already bursting at the seams. What are the latest changes in the Russian gold reserves?

The tendency of countries to replenish their gold reserves has strengthened during this year, being Russia one of the most remarkable. The Russian Federation added 1 million troy ounces of gold (31 tons) to its gold reserves in August, as stated by the country's Central Bank.

Russia ranks sixth in the world gold reserves. Since the beginning of the year, the country has bought more than 3.5 million ounces of gold (112 tons) – almost twice than the amount purchased in the first half of 2014.

The news of the last months reported a rise in gold reserves from 1,287.6 to 1,288 tons of gold from June to August this year. And from the beginning of August to the start of autumn a growth of 2% was observed up to 1,319 tons of gold.

Russia's gold reserve is comprised both of gold bars and gold coins. The figures from a World Gold Council's report show that the share of the yellow metal in the international reserves of the country is larger than 13%. What does this mean?

It means that the country is aware of the importance of increasing their gold reserves to strengthen the national economy – an example for other countries. Average people in turn can take the example of Global InterGold clients – people who have strengthened their personal economies buying gold bars under rewarding conditions.

Learn more about gold and the opportunities of buying it on the official Global InterGold website: www.globalintergold.com/gs