{"id":31430,"date":"2018-02-22T08:13:57","date_gmt":"2018-02-22T13:13:57","guid":{"rendered":"http:\/\/olduvai.ca\/?p=31430"},"modified":"2018-02-22T08:13:57","modified_gmt":"2018-02-22T13:13:57","slug":"russian-central-bank-buys-gold-600000-ounces-or-18-7-tons-in-january-as-venezuela-launches-petro-gold","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=31430","title":{"rendered":"Russian Central Bank Buys Gold \u2013 600,000 Ounces Or 18.7 Tons In January As Venezuela Launches \u2018Petro Gold\u2019"},"content":{"rendered":"
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Russian Central Bank Buys Gold \u2013 600,000 Ounces Or 18.7 Tons In January As Venezuela Launches \u2018Petro Gold\u2019<\/a><\/h3>\n<\/header>\n
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\u2013 Russian central bank buys gold \u2013 large 600,000 ounces or 18.7 tons of gold in January<\/strong>
\n<\/strong>\u2013\u00a0Russia increased its holdings to 1,857 tons, topping the People\u2019s Bank of China\u2019s \u2018reported\u2019 1,843 tons
\n\u2013 Russia\u00a0surpasses China as 6th largest holder of gold reserves \u2013 after U.S., Germany, IMF, Italy and France
\n<\/strong>\u2013\u00a0Turkish central bank added 205 tons \u201cover 13 consecutive months\u201d \u2013 Commerzbank
\n<\/strong>\u2013 Meanwhile, Russian ally Venezuela is launching a\u00a0new gold-backed cryptocurrency next week<\/strong><\/p>\n

\"\"<\/a><\/p>\n

Russia has overtaken China as the fifth-biggest sovereign holder of gold, allowing it to diversify its foreign currency holdings amid a deepening rift with the US,\u00a0Bloomberg News\u2019<\/a>\u00a0Eddie van der Walt reported overnight.<\/p>\n

The Bank of Russia increased its holdings in January by almost 20 metric tons to 1,857 tons, topping the People\u2019s Bank of China\u2019s reported 1,843 tons. While Russia has increased its holdings every month since March 2015, China last reported buying gold in October 2016. The U.S. is still the largest owner of gold, with 8,134 tons, much of it stored in Fort Knox.<\/p>\n

Russia\u2019s central bank continues to add gold to reserves while the People\u2019s Bank of China remains on hold, pointed out Commerzbank.<\/p>\n

<\/p>\n

Analysts cited news that the Russian central bank bought 600,000 ounces, or 18.7 tons, of gold in January as it continued to diversify its reserves. Analysts cite IMF data showing that Turkey also bought large quantities of gold in January at 560,000 ounces or 17.4 tons.<\/p>\n

\u201cThus the Turkish central bank has topped up its gold reserves by a total of 205 tonnes over 13 consecutive months,\u201d Commerzbank added.<\/p>\n

Kazakhstan continues to buy gold in small quantities, as it has been doing steadily for years.<\/p>\n

This goes some way to plugging the gap left by the Chinese central bank. The PBOC, meanwhile, has not reported the purchase of gold for 15 months in a row.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Russian Central Bank Buys Gold \u2013 600,000 Ounces Or 18.7 Tons In January As Venezuela Launches \u2018Petro Gold\u2019 \u2013 Russian central bank buys gold \u2013 large 600,000 ounces or 18.7 tons of gold in January \u2013\u00a0Russia increased its holdings to 1,857 tons, topping the People\u2019s Bank of China\u2019s \u2018reported\u2019 1,843 tons \u2013 Russia\u00a0surpasses China as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,1865,5613,2914,2615,18844,695,851],"class_list":["post-31430","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-gold-reserves","tag-goldcore","tag-pboc","tag-peoples-bank-of-china","tag-petrogold","tag-russian-central-bank","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31430"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31430\/revisions"}],"predecessor-version":[{"id":31431,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31430\/revisions\/31431"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}