- Russia increased it’s gold reserves by another 300,000 ounces in July and its gold reserves are now worth $101.9 billion
- Total amount of Russian gold reserves rose 0.4% in July, reaching 71.3 million ounces or 2,218 tons as of August 1
- Official figures show gold now accounts for 19.6% of the total reserves of the Russian Federation
- Russia was the world’s largest gold buyer last year and bought nearly 275 tons, the largest amount ever purchased in a single year, according to the World Gold Council
- Russia is en route to become the world’s fourth largest foreign exchange holder after China, Japan, and Switzerland
News and Commentary
Gold steady, focus on Jackson Hole summit for rate-cut direction
Fed debated bigger rate cut, wanted to avoid appearing on path for more cuts
Fed members affirm ‘mid-cycle adjustment,’ see no ‘pre-set course’ for cuts, minutes show
Surge in corporate debt with negative yields poses risk ‘unlike anything’ investors have ever seen
Russia Buys More Gold in July, Taking Reserves Well Above $100bn
Going for gold: Russia boosts bullion stockpile by 9 tons in July
Ira Epstein Precious Metals Update Video: Gold consolidating
Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)
21-Aug-19 1499.65 1503.25, 1235.41 1238.53 & 1351.48 1354.43
20-Aug-19 1502.65 1504.55, 1242.69 1239.60 & 1356.44 1357.86
19-Aug-19 1499.35 1496.60, 1236.66 1235.29 & 1350.76 1348.89
16-Aug-19 1509.05 1515.25, 1242.55 1246.14 & 1361.46 1367.82
15-Aug-19 1517.65 1515.65, 1254.49 1250.26 & 1361.48 1363.78
14-Aug-19 1500.35 1513.25, 1241.69 1253.73 & 1341.61 1356.17
13-Aug-19 1527.20 1498.40, 1265.90 1240.38 & 1363.48 1338.67
12-Aug-19 1501.95 1504.70, 1244.82 1243.63 & 1343.64 1341.74
09-Aug-19 1503.50 1497.70, 1242.19 1240.99 & 1342.02 1338.05
08-Aug-19 1497.40 1495.75, 1230.26 1234.14 & 1335.08 1335.70
07-Aug-19 1487.65 1506.05, 1225.82 1239.33 & 1330.11 1341.44
06-Aug-19 1461.85 1465.25, 1199.59 1201.21 & 1304.85 1311.11
05-Aug-19 1457.45 1465.25, 1199.92 1203.85 & 1307.92 1310.23
02-Aug-19 1436.05 1441.75, 1184.17 1187.28 & 1294.02 1298.44
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