Friday, January 30, 2015

In a war u stock up on weapons, in a currency war u stock up on gold: Russia Increases Gold Reserves for 9th Month:

Kazakhstan’s Central Bank buying out all gold produced
For the recent two years Kazakhstan’s Central Bank has been buying all the fine gold produced in the country, Tengrinews.kz reported, citing Albert Rau, Minister for Investments.
“Given the turbulent global economy condition, the National Bank has been buying out all the fine gold produced (…) annual production output stands at 22 tons a year”, Mr. Rau said, when presenting a draft law on precious metals and gems in the country’s Majilis (lower chamber).
“As a rule, prices for gold grow amidst growing demand (…) the latter is normally driven by volatility of major currencies. Currently, the keen interest to gold is assigned to the weakening Euro. Gold is seen as a stable harbor”, he elaborated.
http://en.tengrinews.kz/markets/Kazakhstans-Central-Bank-buying-out-all-gold-produced-258650/
Russia Increases Gold Reserves for Ninth Consecutive Month
Russia raised its gold reserves for a ninth straight month in December as the country continued to add to the fifth-biggest gold holdings in the world, data from the International Monetary Fund showed on Tuesday.
Russia increased its bullion holdings by 20.73 tons to 1,208.23 tons in December, the IMF data showed.
http://www.themoscowtimes.com/business/article/russia-increases-gold-reserves-for-ninth-consecutive-month/514935.html

No comments:

Post a Comment