• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Precious Metals Market
    Precious Metals News
    Precious Metals Stocks
    • Precious Metals Market
    • Precious Metals News
    • Precious Metals Stocks
    gold investing

    Russia Purchases 900,000 Ounces of Gold in Response to Sanctions

    Teresa Matich
    Jun. 05, 2014 08:02AM PST
    Precious Metals

    Sprott Money wrote today that, in addition to measures such as moving forward with a major LNG deal with China, Russia has purchased approximately 900,000 ounces of gold as the west continues to threaten the ex-soviet nation with sanctions.

    Sprott Money wrote today that, in addition to measures such as moving forward with a major LNG deal with China, Russia has purchased approximately 900,000 ounces of gold as the west continues to threaten the ex-soviet nation with sanctions. Nathan McDonald of Sprott Money News suggests that Russia is accumulating the yellow metal as part of its attempts to disconnect itself from Europe and North America, and that sanctions from the west could result in a harmful ‘boomerang effect.’

    As quoted in the publication:

    This brought Russian gold holdings to 34.4 million ounces, making it a major and actively growing player in the world gold market. Since 2006, Russia has been acquiring the yellow metal at a rapid rate. On average, they have been adding 0.5 million ounces per month to their reserves, as seen in the chart below.

    Click here to read the full Sprott Money article.

    chinagold investingeuroperussia
    The Conversation (0)

    Go Deeper

    AI Powered
    Gold bars on a Chinese flag background.

    Gold Market Dynamics Shifting as China-US Trade Tensions Ramp Up

    Gold bear and bull fighting over bars of gold.

    Gold Price 2024 Year-End Review

    Latest News

    Finlay Minerals Announces Closing of Non-Brokered Private Placement of Flow-Through and Non-Flow-Through Units

    FALCO ANNOUNCES CLOSING OF BOUGHT DEAL PRIVATE PLACEMENT

    Heliostar Presents Stronger Economics at the La Colorada Mine in Updated Technical Report

    Apollo Files NI 43-101 Technical Report for the Calico Silver Project Updated Mineral Resource Estimate

    Prince Silver Corp Announces Listing on the Frankfurt Stock Exchange Under the Symbol T130

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Precious Metals Stocks

    JZR Gold

    JZR:CA

    Blue Jay Gold

    Providence Gold Mines

    PHD:CC

    Mount Hope Mining

    MHM:AU

    Walker Lane Resources

    WLR:CC

    Rua Gold

    RUA:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES