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« GOT GOLD? MIGHT BE A PRETTY GOOD TIME TO DIVERSIFY! | Main | The Dollar Pegs are Next »
Sunday
Jan182015

"De-Dollarization" Deepens: Russia Buys Most Gold In Six Months, Continues Selling US Treasuries

 

The rumors of Russia selling its gold reserves, it is now clear, were greatly exaggerated as not only did Putin not sell, Russian gold reserves rose by their largest amount in six months in December to just over $46 billion (near the highest since April 2013). It appears all the "Russia is selling" chatter did was lower prices enabling them to gather non-fiat physical assets at a lower cost. On the other hand, there is another trend that continues for the Russians - that of reducing their exposure to US Treasury debt. For the 20th month in a row, Russia's holdings of US Treasury debt fell year-over-year - selling into the strength.  

Buying low...

Russia gold reserves jump the most in six months in December, near the highest since April 2013...


Read more...

 

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