|
Dear Friend of GATA and Gold:
The report from the ITAR-TASS news agency in Russia
appended here seems notable for quoting the Bank of Russia as saying that it
is buying gold only on the domestic market, and from Russian bullion banks,
rather than on international markets as well, a change of the position
articulated in 2005 by Russia's then-president, Vladimir Putin, now Russia's
prime minister, who said then that the bank would be buying gold on all
markets.
Of course this policy of buying only domestic
production rather than messing up the Western paper gold markets seems to be
China's policy as well.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Central Bank Plans to
Buy Over 100 Tons of Gold Every Year
From ITAR-TASS, Moscow
Monday, January 24, 2011
http://www.itar-tass.com/eng/level2.html?NewsID=15884581&PageNum=0
MOSCOW -- The Central Bank of Russia plans to buy
more than 100 tonnes of gold to renew the country's
gold and foreign exchange reserves (or international reserve assets) every
year, the bank's first deputy chairman, Georgy Luntovsky, told reporters on Monday, giving no details
pertaining to the terms.
Earlier, in an interview to the Prime Tass economic news agency, the first Deputy chairman of
the bank, Alexei Ulyukayev, said the central bank
would increase the share of gold in the national reserves.
In the middle of October 2010, the bank's director
of the financial operations, Sergei Shvetsov, said
the bank did not import gold in 2010. The bank buys gold on the domestic
market, in Russian banks.
According to the central bank, the reserves of gold
in the Russian international reserve assets increased by 23.9 percent (152.4 tonnes) in 2010 to reach 25.4 million net troy ounces
(790 tonnes) as of January 1, 2011, Prime Tass said.
As of January 1, 2009, the amount of monetary gold
in Russia's international reserves was at 16.4 million ounces (510.1 tonnes), the economic news agency said.
In 2009, the central bank's gold reserves increased
by 4.1 million ounces (127.5 tonnes) to reach 20.5
million ounces (637.6 tonnes) as of January 1,
2010, Prime Tass said.
Join GATA here:
Cheviot Asset Management Sound Money Conference
Guildhall, London
Thursday, January 27, 2011
http://www.gata.org/files/CheviotSoundMoneyConferenceInvite.pdf
Phoenix Investment Conference and Silver Summit
Renaissance Glendale Hotel and Spa
Friday-Saturday, February 18-19, 2011
Glendale, Arizona
http://cambridgehouse3.com/conference-details/phoenix-investment-confere...
Support
GATA by purchasing a colorful
GATA T-shirt:
http://gata.org/tshirts
Or a colorful poster of GATA's full-page ad in The
Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21
conference in the Yukon:
http://www.goldrush21.com/
Help keep GATA going
GATA is a civil rights and educational organization
based in the United States and tax-exempt under the U.S. Internal Revenue
Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
To contribute to GATA, please visit:
|
