29.03.2024

Russia bought the most gold in the world, reducing dependence on the dollar

Due to the continuing sanction risks, Russia continues to buy gold. This year the country bought the most precious metal in the world. However, other countries also continue to increase it in their stocks.  

Russia bought the most gold in the world, reducing dependence on the dollar

All world central banks overcame a maximum over the past six years in gold purchases in the first quarter of this year. Such data leads  Bloomberg,  with reference to the estimates of the World Gold Council. Compared to the same period last year, regulators purchased 65% more gold.

During the first three months, 145.5 tons of the precious metal came into reserves in different countries.

China follows Russia, whose central bank also has the task of diversifying assets in favor of reducing the share of the dollar against the backdrop of a trade war with the United States.

As previously reported, last year the Central Bank of the Russian Federation increased monetary gold reserves by 14.9%, or by almost 275 tons, to 67.9 million ounces (more than two thousand tons).

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