Russia Is Buying Lots of Gold to Shield It from Sanctions

(From CNN Money)

The central bank previously added 20 tons in May and 17 tons in June. Its total holdings of the precious metal have increased 37% since the start of 2016, and are now worth an estimated $76 billion. . . .

The gold purchases have coincided with a dramatic reduction in the central bank’s ownership of US government debt, which plummeted 84% between March and May to just $14.9 billion.

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