Russia Buying Gold, Not Selling It

Writing for BullionStar, Koos Jansen said that while rumors abound that Russia is selling gold, in fact it bought 18 tonnes of the metal in November.

Russia’s official gold reserves thus sat at 1,188 tonnes as of December 1, 2014.

As quoted in the market news:

The rumors about Russia selling gold were spread by Yahoo, Business Insider, and Zero Hedge/SocGen. Two other bloggers already did the debunking for us; Market Update wrote about Yahoo’s article and Bron Suchecki just published a must read on Zero Hedge/SocGen/Business Insider.

The final confirmation came from Vladimir himself. Yesterday the President of Russia gave his yearly press conference. When journalist Vyacheslav Terekhov (Interfax) asked about the crisis Russia currently is in, Putin made a clear statement.

Click here to read the full BullionStar report.