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CREGG
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Russian central bank buys gold because it can do it with depreciating rubles - Chris Powell - GATA

It's a good way to fight devaluation of their currency, especially when they buy gold using ruble.

Commented 2927 days ago

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Beginning of the headline :From Sputnik News, Moscow Thursday, September 29, 2016 Russia plans to stock up on about 200 tons of gold this year, nearly matching the 208 tons it purchased in 2015. That's according to Anton Navoi, the deputy head of the statistics department at the Russian Central Bank. Navoi explained that it's profitable for the state to buy the precious metal, since Russia is a world leader in its production. Speaking at a conference on Wednesday, the official said that "last year the central bank purchas... Read More

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