- Russian Gold Acquisitions Explode Higher In One Week!
Those following along for the past 2-3 years are well versed in how Russia and, to a lesser degree, China have been acquiring physical gold and they just don’t care who knows. Russia has been very vocal and forthcoming about their physical gold acquisitions and each month for the past several years have made a point of reporting to the IMF and World Gold Council they have in fact acquired more gold.
Just a few weeks ago Russia increased their gold holdings to the point of surpassing China in the volume physical gold. Russia was so proud of this achievement they invited EnglishRussia News Service to enter, what appears to be, the Russian Central Banks gold vault, photograph the entire vault, detail some of the workings within the vault and publish a written article around the photos!
Needless to say the gold community was ecstatic over the images and the story. It’s not everyday that a Central Bank shares photos of their gold horde.
While everyone was expressing their excitement over the images of Russian gold we were, not only reporting on the gold, we were also reporting on the massive silver horde stacked on top of all the gold. Hardly anyone picked up on the fact that Russia is amassing ton upon ton of physical silver to compliment their gold holdings. It is unclear how much silver Russia has amassed at this point since “official reporting” is no longer necessary. Russia can stack silver to the moon and never report a single ounce to any monetary organization like the IMF or silver reporting agency like the Silver Institute.