Friday, July 9, 2010

Russian Gold Reserves Make Post-Soviet Record

There are already rumours about Russia moving to a gold-backed ruble. Further grist for those rumours is evident in that country's central bank now holding gold reserves that exceed the previous post-Soviet record from 1993.

Given the continuality of recent Russian central bank buying, it's a safe call that new records of this sort will be made in the near future.

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