- Russia buys 300,000 ounces of gold in March and nears 2,000t in gold reserves
- Russia now holds just over 1,861 tonnes, more than officially reported by China at 1,842t
- Both Russia and China have the power to destabilise US dollar by dumping dollar-denominated assets
- Turkey has removed all gold held in the U.S. opting for Bank of England and BIS
- Turkey follows trend set by both Germany, Netherlands and others to remove gold reserves stored in the United States
- Central bank decisions regarding gold reserves are examples of countries becoming nervous about the outlook for the dollar under the Trump administration
The continuing robust and steady accumulation of gold reserves continues and it was notable how Russian media channels loudly (more loudly than usual it seemed with many outlets covering) pronounced the continuing diversification into gold bullion by the Russian central bank. It suggests that gold is being used as a bulwark to protect Russia from the stealth financial, trade and currency wars which appear to be deepening.
Russia is not the only country diversifying into gold and many other countries are doing so as they seek to protect themselves from the coming devaluation of the US dollar and U.S. dollar hegemony. This is evidenced both by gold purchases and also in many strategic decisions regarding the storage of national gold reserves.















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