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The Central Bank of Russia, according to June data, has added 106 tons of gold to its already existing a 2,000-ton pile in the first half of 2018. At the same time, Russia was selling most of the US bonds that it owned.
Moscow seeks financial independence and eschews American hegemony, says analyst Anton Mahnovski, director of the ICBF Fund
: "Some countries want to be less dependent on Americans. They reject the dollar in US trade and assets as a financial reserve. Russia has increased its gold purchases during the US presidential race and has not stopped despite Donald Trampe's victory, even though he seemed to be a more desirable candidate for the Kremlin, "he said. Mr. Mahnovski: This analyst says he thinks that Russia will continue to accumulate its reserves.
Gold reserves of 2,000 tons approach the Soviet maximum of 2,800 tons reached in 1941. During of the last decade, the proportion of gold in the reserves has been multiplied by 10. Russia has also reduced its stocks of US government bonds from $ 96.1 billion in March to just $ 14.9 billion in May Loan reserves now rise to $ 460 billion and the Central Bank aims to bring this value to $ 500 billion.
Financial Center analyst Vladimir Royankovski Moscow International Warned the Central Bank of R ussie that she should not become overly dependent In the event of global slowdown, in the interest of major sovereign investors of US government bonds, I expect an increase in speculative activity on Precious metals to artificially reduce their market value, "Ryankovsky told RT
Nearly two-thirds of Russian stocks of precious metals are kept at the Central Bank's warehouse in Moscow, until the end of the year. recently confused with the secret. The rest of Russian gold is kept in St. Petersburg and Yekaterinburg on the Ural.
Russia is one of the largest gold producers in the world. More than two-thirds of Russian gold is mined in the Far East and Siberia regions of Amur, Khabarovsk, Magadan, Irkutsk, Krasnoyarsk and Yakutia. Much of the work is done in the Urals, Karelia and Murmansk. At present, geologists estimate that Russia has nearly 12,500 tons of gold not examined
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