Fri, Aug 22, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Russia’s gold purchases are surging as the metal’s price has slumped

Posted on 15 November 2013

Since the great gold crash of March 2013, it’s been tough times for the yellow metal. A troy ounce of gold is now worth 22% less than it was in January. Despite voracious bottom-feeding from China that continued in Q3, gold demand fell 21% last quarter, compared with Q3 2012, says the World Gold Council, which cited people selling shares in gold exchange-traded funds (ETFs) as the biggest reason.
But one country is still aggressively building up its gold holdings. Russia’s central bank added another 18.7 tonnes (20.6 tons) to its gold reserves in Q3 2013. The 1,015 tonnes it now has marks the first time it has crossed the 1,000-tonne mark………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 36568 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

August 2014
S M T W T F S
« Jul    
 12
3456789
10111213141516
17181920212223
24252627282930
31