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Russia’s Adding Another 200 Tons of Gold to Its Treasury and Here’s Why

Posted on 30 September 2016

Russia plans to stock up on about 200 tons of gold this year, nearly matching the 208 tons it purchased in 2015. That’s according to Anton Navoi, the deputy head of the statistics department at the Russian Central Bank.
Navoi explained that it’s profitable for the state to buy the precious metal, since Russia is a world leader in its production. Speaking at a conference on Wednesday, the official said that “last year, the Central Bank purchased 208 tons of gold. This year, it will purchase around 200 tons.”……………………………………..Full Article: Source


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