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The Central Bank of Russia Buys 3.1 Tonnes Gold

russia reserves
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EDITOR NOTE: The Central Bank of Russia Data recently published data that shows the country’s gold reserves increased by 3.1 tonnes in July 2021. This brings Russia’s total gold holdings to 2,295.4 tonnes. This gold grab by Putin and his central bank is the first monthly increase in gold reserves in over a year. China is just the latest in a long line of countries around the world that are looking at the world economy, inflation, the strength of the U.S. dollar, the coming IMF revaluation of the global SDR basket on September 30, and more and then stocking up on gold to protect their own wealth. These countries include China, India, Brazil, Thailand, and Hungary, to name a few. Even businesses like billionaire Peter Theil’s Palantir Technologies are starting to hoard gold. Many individuals who see economic disaster coming and want to protect themselves and their wealth with gold like these world powers are doing so as well by stocking up on non-CUSIP gold and silver.

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