Russian Gold Acquisitions Explode Higher In One Week!
Russian Gold Acquisitions Explode Higher In One Week! by Rory – The Daily Coin
Those following along for the past 2-3 years are well versed in how Russia and, to a lesser degree, China have been acquiring physical gold and they just don’t care who knows. Russia has been very vocal and forthcoming about their physical gold acquisitions and each month for the past several years have made a point of reporting to the IMF and World Gold Council they have in fact acquired more gold.
Just a few weeks ago Russia increased their gold holdings to the point of surpassing China in the volume physical gold. Russia was so proud of this achievement they invited EnglishRussia News Service to enter, what appears to be, the Russian Central Banks gold vault, photograph the entire vault, detail some of the workings within the vault and publish a written article around the photos!
Needless to say the gold community was ecstatic over the images and the story. It’s not everyday that a Central Bank shares photos of their gold horde.
While everyone was expressing their excitement over the images of Russian gold we were, not only reporting on the gold, we were also reporting on the massive silver horde stacked on top of all the gold. Hardly anyone picked up on the fact that Russia is amassing ton upon ton of physical silver to compliment their gold holdings. It is unclear how much silver Russia has amassed at this point since “official reporting” is no longer necessary. Russia can stack silver to the moon and never report a single ounce to any monetary organization like the IMF or silver reporting agency like the Silver Institute.
If you look at the images above – click any to enlarge – you will see silver bars peeking out of the cardboard. How much silver is stacked on these pallets? The bars in the first image, appear to be 1,000 ounce bars – they may be a different size, but whatever their size, odds are against you being able to walk into your local coin shop and pick one up. Online dealers carry these behemoths, but they are not for the typical retail investor. How much silver and for what purpose is all this silver stacked is what I want to know. Not that I will ever get an answer, but it is interesting the Russians are showing their “hand” when it comes to money and the diversity in their vaults. That’s a lot of silver! Source
Back to the gold!
As we reported, at the end of January, Russia was poised to overtake the 6th position in global gold holdings. Well, they accomplished this goal well ahead of projections we made in October 2017. At that time it appeared Russia would cross the line sometime around April/May/June 2018, she smashed that timeline.
Just as we stated then, it is of little importance other than the fact that Russia wants all the gold. We still believe China is acquiring gold, but no longer needs to report it officially since she was added to the IMF basket of currencies that measure the SDR. We can say with absolute confidence that China is adding between 80 and 100 tons to their gold reserves as China and Russia signed an agreement for Russia to send China that range of tonnage on an annual basis.
One would believe that Russia may consider slowing their acquisitions of gold after making such a tremendous move on the global gold stage; well, one would be mistaken.
It appears that Russia is full steam ahead with their gold acquisitions and may in fact be accelerating her acquisitions. It appears that Russia is not content with being in 6th place in gold reserves as she added an historic amount of physical gold between March 2 and March 9, 2018. You read that right, in one week’s time Russia added “$2.9 billion or 0.6 percent in a single week” to her gold reserves.
Russia’s gold reserves spiked to $455.2 billion between March 2 and 9 hitting a historic high not seen since September 2014, the Central Bank announced earlier this week.
“Our international reserves increased by $2.9 billion or 0.6 percent in a single week, mainly on the strength of positive re-evaluation,” the regulator explained.
In late-January, President Vladimir Putin said that the country’s gold reserves were looking up and now stood at $442.8 billion.
According to World Gold Council data, in 2017 the Russian Central Bank became a world leader in terms of gold stockpile increase. Source
It sounds like sanctions have been great for Russia and with the threat of more U.S. sanctions on the horizon we can only imagine what Russia will do to bolster their ever growing gold reserves. I guess President Putin meant what he said when announcing that Russia sees the Federal Reserve Note, U.S. dollar, as a national security threat. Gold can’t do anything about this threat but gold can help to set up a new monetary system that sidesteps monetary threats.