Russia's central bank to suspend gold purchases on domestic market

[5huggy]

Russia's central bank announced that it will suspend gold purchases on the domestic market starting April 1st, Reuters reported on Monday, citing IFAX news agency.

"Further decisions on gold purchases will depend on how the situation develops," the bank said.

This headline had little to no impact on the price for the troy ounce of the precious metal. As of writing, the XAU/USD pair was down 0.68% on a daily basis at $1,620. The upbeat market mood in the American session, as reflected by strong gains in Wall Street's main indexes, seem to be making it difficult for safe-haven gold to find demand. 

from here - -  > >https://www.fxstreet.com/news/russias-central-bank-to-suspend-gold-purchases-on-domestic-market-from-april-1-202003301519

[Coolsmp]

Not an April fools joke!

[sixgun]

Quote

....suspend gold purchases on the domestic market....

.........on the domestic market.............
But what about the international market?

[MancunianStacker]

So Russia is already expecting its currency to collapse. Thanks for the tip off!

Na Zdorovie!!!! 

[5huggy]

1 hour ago, sixgun said:

.........on the domestic market.............
But what about the international market?

🤣🤣🤣🤣  please contact - - -V. Putin - tel:- 00 7 xxx xxxxxxx ext 213

for any further assistance on your enquiry please try KGB 00 7 xxx xxxxxxx but please look over your shoulder whilst dialling! 🤫

[CadmiumGreen]

2 hours ago, 5huggy said:

🤣🤣🤣🤣  please contact - - -V. Putin - tel:- 00 7 xxx xxxxxxx ext 213

for any further assistance on your enquiry please try KGB 00 7 xxx xxxxxxx but please look over your shoulder whilst dialling! 🤫

No need to look over your shoulder...they, SVR, are already implanted on your phone!!😶

[Coolsmp]

Putin will Novichok you if you try and buy his gold.

[Mildred]

There's not only the Russian Central Bank

Russia Could Invest Part Of Its National Wealth Fund In Gold

Quote

It now appears that the recent gold-buying spree wasn't enough, because according to Russia's Finance Minister Anton Siluanov, Russia is now also considering investing part of its National Wealth Fund in gold, adding that it is Russia's view that investment in the precious metal as more sustainable in the long-term than in financial assets.

“There is a discussion on whether to invest the fund’s money in gold and precious metals. There are a lot of supporters and opponents,” Siluanov said.

Maybe the Russian Government see as their prerogative to acquire the country's gold domestic production

 

 

[Martlet]

Russia is engaged in a oil price war, I doubt there will be anything spare to spend on gold and the wealth fund may be taking a hit for domestic expenses.

[Au79]

Perhaps the Russians were smart enough not to buy gold because its time to buy silver 😄

https://www.silverdoctors.com/gold/gold-news/move-over-fort-knox-heres-an-actual-look-inside-russias-gold-vaults-at-their-gold-reserves/amp/

 

[5huggy]

They will have ALREADY bought - not daft enough to leave it to NOW! either Au or Ag!