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Russian Gold Buying Increases Almost 400 Percent Under Putin
Bloomberg reported that during Putin’s tenure, Russia has become the largest gold purchaser in the world.
As quoted in the market report:
Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty.
