Russia and Kazakhstan Continue to Expand Gold Reserves

Bloomberg reported that Russia and Kazakhstan increased their holdings in gold reserves for the sixth straight month in a row.

As quoted in the market report:

Russian holdings, the world’s seventh-largest by country, climbed 4.7 metric tons to 981.6 tons, increasing 2.5 percent this year after adding 8.5 percent in 2012, International Monetary Fund data show. Kazakhstan’s hoard grew 1.2 tons to 122.9 tons, taking the gain to 6.6 percent this year after a 41 percent expansion in 2012, data on the website showed.

To view the whole Bloomberg report, click here.