Daily Express has called the purchase of gold by Russia a bad omen for the whole world.

The publication indicates that Russia has increased its gold reserves by 145.5 tons in the first quarter of 2019, representing an increase of 68% over the same period of 2018.

Previously, RIA Novosti, referring to the World Gold Council, said that Moscow had bought 55.3 tons in the first three months of this year and that the total reserve amounted to 2168 tons.

Daily Express writes that Moscow is accumulating gold and foreign exchange reserves simultaneously with a decrease in investments in US securities and is also seeking to reduce its dependence on the US dollar.

Thus, Russia is trying to defend itself against the likely crisis of the world economy.

"Significant gold purchases by governments or central banks are rarely a good sign for peace and cooperation in the world," Ash said.

However, as the publication adds, Russia again it remains fifth in the world for total foreign exchange reserves and the precious metal itself represents less than 20% of its total foreign exchange reserves.

However, if Moscow continued to buy gold at the same pace, it could soon bypbad France and Italy and enter the top three countries offering the largest amount of this metal. According to the expert, Russia will strengthen its position on the world stage. In addition, Moscow considers gold as a means to limit the power of the United States, he said.

"The rule of thumb is this: who has the gold and who has the power," quotes the newspaper Adrian Asch.

At the same time, Daily Express notes that the United States is still the largest gold holder in the world and with a large margin, which confirms the fact that countries with a large reserve of this Precious metal have a huge reserve on the world situation.

However, for Russia to catch up with the United States on this indicator, it will have to buy all the gold on the market over the next twenty years.

Over the past year, the Bank of Russia has increased its gold reserves by 14.9 percent, or nearly 275 tons, to 67.9 million ounces (over two thousand tons). During the year, he bought it regularly to replenish his gold reserves. In December, he acquired 9.3 tons.

The head of the central bank, Elvira Nabiullina, has repeatedly said that the regulator's policy was to diversify investments in international reserves taking into account all risks, including financial, economic and geopolitical. For example, last year, after Washington imposed anti-Russian sanctions, the Central Bank began selling US government bonds. By the beginning of the fall of 2018, investments, which had risen to $ 176 billion in 2010, had been reduced to $ 14 billion.