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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

U.S. paper gold suppression allows Russia and China to buy real gold at discount

By cpowell
Created 2018-06-13 16:10

Russia Today is operated by the Russian government and this report shows again that Russia knows what is happening in the currency markets and is acting on its knowledge.

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From Russia Today, Moscow
Wednesday, June 13, 2018

Efforts by the United States to suppress gold prices in order to prop up the dollar are allowing Russia and China to build up huge reserves of physical gold by purchasing large quantities of the precious metal at significantly lower prices.

Net central bank purchases in the first quarter of the current year surged by 42 percent compared to the same period a year ago, totaling 116.5 tons, according to data compiled by the World Gold Council. The number reportedly represents the highest quarterly total since 2014.

... Dispatch continues below ...


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Over the past two decades, Russia has been ramping up the purchases of physical gold. In May the country's gold reserves surged to 1,909 tons, Russia's Finance Ministry reported. Since 2000 the country's gold reserves have surged by 500 percent. ...

... For the remainder of the report:

https://www.rt.com/business/429573-us-china-russia-physical-gold/ [2]

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Source URL:
http://www.gata.org/node/18308