Russia and Kazakhstan continued their gold buying spree in November, and Turkey added to its reserves as well. Meanwhile, India is on pace for a healthy increase in gold imports this year.
It was the 38th straight month of increasing gold reserves for Kazakhstan, according to Bloomberg:
Kazakhstan raised its stash to 7.03 million ounces in November from 6.96 million ounces a month earlier and Russia boosted assets to 44.78 million ounces from 44.07 million ounces, data on the IMF’s website showed. Turkey’s reserves increased to 16.39 million ounces from 16.10 million ounces.’
Russia’s November gold buy follows on the heels of a 34.2 ton increase in its holdings of the precious metal in September, and a 1 million ounce increase in August. Russia boasts the world’s seventh largest gold reserve.
This post was published at Schiffgold on DECEMBER 22, 2015.
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