Gold blow: Russia is released from hanging on the dollar



Economics

Download a shorter link

Russia is continuing to accelerate in diversification of international investments, reporting Bloomberg.

According to Central Bank Bank data, gold reserves increased by 31.1 tonnes in February 2019 to reach a 2.149 tonne on 1 March. The Russia increased its gold reserves by 6.22 tonnes in January.

There are a number of sources in the business field on continuing to Bloomberg that gold can be a problem when more countries adopt a strategy similar to that of Russia. Partners in the United States such as France, Poland and Hungary have already started buying gold or be relying on their diesel as a sovereignty problem.

The main economist of Renesans Capital, Oleg Kouzmin, believes that continuing conflict with Washington may lead to an increase in the volume of gold in its international reserves.

We can already talk about achieving the specific achievements of Central Bank in this area.

Ronald-Peter Stoeferle, the managing director of Inkrementum AG, said Russia's "golden profit" had affected the rise in world gold prices in recent years.

The value of the gold rose by over 20 per cent since 2016 and reached 1 March, around $ 1,300 per ounce.

Last month, economists have estimated that the Central Bank of Russia generated a net income of ten billion dollars as a result of an increase in property prices in gold.


Source link