Russia Keeps Buying Gold, But Jeff Christian Says It’s Just ‘Business As Usual’ (PART 1/2)

The Russian government has been steadily adding gold to its reserves, adding 21 metric tons in October and tripling the amount over the last decade. Should this raise red flags? According to longtime gold expert Jeff Christian, not quite. “I look at the increase in gold reserves in Russia since 2005 as just business as usual for Russia,” he told Kitco News. “Russia is finally able to execute on a long-term desire to rebuild inventories and in addition to that, they want to diversify away from the U.S. dollar.” The CPM Group managing director said Russia is not the only country looking to get away from the greenback, with China also adding gold to its reserves. “There’s a great dissatisfaction with the monetary policies that the U.S. has exercised since WWII…There are political messages there,” he said. “But the real message is a monetary message, which is that governments want to diversify their reserves.” (show less)

The Russian government has been steadily adding gold to its reserves, adding 21 metric tons in October and tripling the amount over the last decade. Should this raise red flags? According to longtime gold expert Jeff Christian, not quite. “I look at the increase in gold reserves in Russia since 2005 as just business as usual for Russia,” he told Kitco News. “Russia is finally able to execute on a long-term desire to rebuild inventories and in addition to that, they ... (read more)

Silver & Gold Summit 2017

Silver & Gold Summit 2017
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