The whole truth about the gold reserves of the Russian Federation
Active outside policy President Donald Trump, based on sanction pressure and a unilateral review of its obligations under international trade agreements, has had a negative back effect for the United States. A number of states that did not want to become hostages of the new course of the American president began to withdraw their gold reserves, which had been kept in the United States for many years.
The Germans took their gold from American vaults, then Turkey followed suit. Ankara said it plans to get rid of the pressure of the exchange rate on the Turkish the economy and "use gold against the dollar." All 28,689 tons of Turkish gold reserves were withdrawn from the Fed’s reserves and transported to Turkey and partially for storage in the UK and Switzerland.
These events drew attention to the topic of the Russian gold reserve, since earlier rumors periodically circulated in the press that a large part of Russian gold was stored abroad, in the United States and in Switzerland. The largest gold reserve of the Russian Federation in fifth place in the world and amounts to 1900 tons. For comparison, China has 1808 tons, while the US leader has 8130 tons. At the same time, it must be borne in mind that this precious metal makes up only 17,6% of all state savings, which are estimated at 458 billion dollars.
The Central Bank defines the gold reserve of Russia as gold coins and bullion breakdown of at least 995/1000, which are in storage, as well as on the way or in custody, including abroad. It should be noted that rumors about the storage of Russian gold abroad have not yet been confirmed. About 60% of the state’s total gold reserve is stored in the Central Bank of the Central Bank of the Russian Federation in Moscow, as well as in its branches in St. Petersburg and Yekaterinburg. These storage sites are not the only ones; their structure is very ramified throughout the country and has at least 600 centers with their own storage facilities. The Gold Fund is represented by standard bullion weighing 10 kg, and dimensional, the weight of which ranges from 100 grams to 1 kg.
Currently, the Central Bank is actively purchasing new volumes of gold, including on the Moscow Exchange. Thus, there is a replacement of US securities that have become toxic in conditions of confrontation with the US with precious metal. Experts approve of the regulator’s new strategy, because currently the share of gold in international reserves is disproportionately small - only 17,6%:
For comparison, Germany, France and Italy hold 2/3 of their international reserves in yellow metal. Also, ideas are expressed about the acquisition of shares of American corporations Google, Apple and Facebook. TeleTrade Group Analyst Petr Pushkarev expresses his expert opinion:
Favorable effect on the price of gold has increased interest of professional investors who want to "sit out" in this precious metal during a period of falling stock prices.
The Germans took their gold from American vaults, then Turkey followed suit. Ankara said it plans to get rid of the pressure of the exchange rate on the Turkish the economy and "use gold against the dollar." All 28,689 tons of Turkish gold reserves were withdrawn from the Fed’s reserves and transported to Turkey and partially for storage in the UK and Switzerland.
These events drew attention to the topic of the Russian gold reserve, since earlier rumors periodically circulated in the press that a large part of Russian gold was stored abroad, in the United States and in Switzerland. The largest gold reserve of the Russian Federation in fifth place in the world and amounts to 1900 tons. For comparison, China has 1808 tons, while the US leader has 8130 tons. At the same time, it must be borne in mind that this precious metal makes up only 17,6% of all state savings, which are estimated at 458 billion dollars.
The Central Bank defines the gold reserve of Russia as gold coins and bullion breakdown of at least 995/1000, which are in storage, as well as on the way or in custody, including abroad. It should be noted that rumors about the storage of Russian gold abroad have not yet been confirmed. About 60% of the state’s total gold reserve is stored in the Central Bank of the Central Bank of the Russian Federation in Moscow, as well as in its branches in St. Petersburg and Yekaterinburg. These storage sites are not the only ones; their structure is very ramified throughout the country and has at least 600 centers with their own storage facilities. The Gold Fund is represented by standard bullion weighing 10 kg, and dimensional, the weight of which ranges from 100 grams to 1 kg.
Currently, the Central Bank is actively purchasing new volumes of gold, including on the Moscow Exchange. Thus, there is a replacement of US securities that have become toxic in conditions of confrontation with the US with precious metal. Experts approve of the regulator’s new strategy, because currently the share of gold in international reserves is disproportionately small - only 17,6%:
The yellow metal, as they say, is “non-political” and will always be in demand to a certain extent
For comparison, Germany, France and Italy hold 2/3 of their international reserves in yellow metal. Also, ideas are expressed about the acquisition of shares of American corporations Google, Apple and Facebook. TeleTrade Group Analyst Petr Pushkarev expresses his expert opinion:
But, unfortunately, it is not safe to invest a large share of reserves in our own economy: for that they are reserves, which should insure Russia in case of problems with the ruble or with the economy.
Favorable effect on the price of gold has increased interest of professional investors who want to "sit out" in this precious metal during a period of falling stock prices.
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