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Russia Buys Gold Equal to 1.5% of Annual World Output

CommissarJones
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Russia Buys Gold Equal to 1.5% of Annual World Output

#8552

Postby CommissarJones » November 24th, 2016, 1:11 pm

An interesting statistic here from broker GoldCore, which is commenting on the Russian central bank's purchase of 48 million metric tons of gold in October:

"Total gold mining production globally is around 3,200 metric tonnes per year. Thus, Russia’s purchase of 48 metric tonnes is around 1.5% of total annual global gold production. This is a very large amount for one country to buy in just one month."

http://www.goldcore.com/us/gold-blog/ru ... ince-1998/

CommissarJones
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Re: Russia Buys Gold Equal to 1.5% of Annual World Output

#8678

Postby CommissarJones » November 24th, 2016, 5:45 pm

CommissarJones wrote:48 million metric tons


Whoops, obviously that should be 48 metric tons.

CommissarJones
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Re: Russia Buys Gold Equal to 1.5% of Annual World Output

#33412

Postby CommissarJones » February 21st, 2017, 1:07 pm

GoldCore reports on its blog that Russia's central bank made another sizeable purchase of gold in January, buying 37 metric tons for its reserves. That compares with 48 tons in October.

http://www.goldcore.com/us/gold-blog/ru ... s-january/

CommissarJones
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Re: Russia Buys Gold Equal to 1.5% of Annual World Output

#91274

Postby CommissarJones » October 27th, 2017, 9:09 pm

And another 34 metric tons of bullion, or a bit more than 1% of annual world gold production, added to Russia's reserves in September. Russia is on track for a third straight year of boosting its gold reserves by 200 tons.

http://www.goldcore.com/us/gold-blog/ru ... september/


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