RT — Russia seeks safe haven in gold, away from dollar and euro

In June, Russia’s Central Bank added 54 tons of gold, which catapulted Russia ahead of China in terms of total gold, according to IMF data.

In the last decade, Russia has become the world’s top gold buyer, adding more than 600 tons to its vaults.

Other countries are also actively adding gold. In the last six months, Kazakhstan’s Central Bank increased its gold investment from 12 tons to 155.8 tons.

Conversely, developed countries such as the US, Germany, Italy, France, and Spain are keeping gold reserves at a stasis. Germany sold 2.9 tons of gold reserves from the Bundesbank but still remains the world’s # 2 holder of gold, after the USA.

RT
Russia seeks safe haven in gold, away from dollar and euro