In the West, again noticed the purchase of gold by Russia
The authorities of the Russian Federation are conducting a consistent policiesaimed at reducing dependence economics countries from the American currency. The country is gradually changing the structure of its foreign exchange reserves, increasing the share of gold reserves at the expense of the US dollar.
Over the past decade, the number of gold bars in the state reserve of the Russian Federation has quadrupled. The most active procurement of gold was in 2018. Then, for the first time in history, the amount of gold acquired by the state exceeded the volume of its production in the country. There is reason to believe that the pace of gold purchases by Russia will not slow down this year either. This means that the state will not limit itself to buying gold in the domestic market, but will begin to import it.
Such actions of Russia did not go unnoticed and caused a real gold rush in the world. Instead of the predicted fall in the price of gold, it is growing, which is due to large volumes of purchases of the "yellow metal" by Russia. Since 2016, the growth in world prices for gold bullion has reached 20 percent.
Active purchases of Russia - this is not the only reason for the growth of activity in the global gold market. Other countries are also trying to break out of the power of the dollar, paying closer attention to gold and the Chinese yuan. This process has swept even the closest European allies of the United States.
In particular, French President Emmanuel Macron directly links the preservation of the sovereignty of his country with the need to reduce dependence on the US dollar, as he spoke in an interview with CNN. In addition to France, a number of European countries are also directing their efforts to free the dollar from power. For example, Poland and Hungary unexpectedly sharply increased their purchases of gold for their reserves.
Over the past decade, the number of gold bars in the state reserve of the Russian Federation has quadrupled. The most active procurement of gold was in 2018. Then, for the first time in history, the amount of gold acquired by the state exceeded the volume of its production in the country. There is reason to believe that the pace of gold purchases by Russia will not slow down this year either. This means that the state will not limit itself to buying gold in the domestic market, but will begin to import it.
Such actions of Russia did not go unnoticed and caused a real gold rush in the world. Instead of the predicted fall in the price of gold, it is growing, which is due to large volumes of purchases of the "yellow metal" by Russia. Since 2016, the growth in world prices for gold bullion has reached 20 percent.
Active purchases of Russia - this is not the only reason for the growth of activity in the global gold market. Other countries are also trying to break out of the power of the dollar, paying closer attention to gold and the Chinese yuan. This process has swept even the closest European allies of the United States.
In particular, French President Emmanuel Macron directly links the preservation of the sovereignty of his country with the need to reduce dependence on the US dollar, as he spoke in an interview with CNN. In addition to France, a number of European countries are also directing their efforts to free the dollar from power. For example, Poland and Hungary unexpectedly sharply increased their purchases of gold for their reserves.
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