Russia cuts gold sale estimates, may sell only domestically

Section:

From Interfax, Moscow
Thursday, October 29, 2009

http://www.interfax.com/3/526442/news.aspx

MOSCOW -- The Russian Finance Ministry has not shelved plans to sell gold from the State Precious Metals and Gemstones Repository (Gokhran) and could sell approximately 25 tonnes of the metal, possibly on the domestic market, a ministry official told Interfax.

"We might notsell on the external market," Alexander Akhpolov, a department head responsible for precious metals, said. "But how can we not sell at all if we have a presidential decree and sales plan, endorsed by the government?" he said.

"The decree does not specify a volume, but there is a general amount for sales by the Gokhran in total. It's not all gold -- there are other metals as well, and we plan to sell not 40-50 tonnes but something like 25 tonnes," Akhpolov said.

* * *

Join GATA here:

International Precious Metals and Commodities Show
Friday and Saturday, November 6 and 7, 2009
Event Arena, Olympic Park
Munich, Germany
http://www.edelmetallmesse.com/en/index.php

* * *

Support GATA by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://www.cartserver.com/sc/cart.cgi

Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:

http://www.goldrush21.com/

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16