Russian Central Bank Sees No Need for Curb on Gold Exports

Russia’s central bank says it sees no need to curb gold-exports after Liberal Democratic Party members filed plans looking to ban companies registered outside of Russia from exporting the yellow metal.

According to Bloomberg:

The measure would help protect Russia against a financial crisis in the U.S. and Europe, according to Degtyarev, his party said on its website. While the central bank buys about 66 to 136 metric tons of gold a year, its reserves are growing too slowly, risking future financial stability, according to the website.

Kirill Chuyko, BCS Financial Group head of equity research, said:

The proposal looks surprising as nothing bans central banks from buying gold now and the price of bullion fell,

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