Gold Steady At $1,500 As Russia Buys Another 300,000 Ounces Of Gold In July

August 22, 2019
Executive & Research Director @ GoldCore
  • Russia increased it’s gold reserves by another 300,000 ounces in July and its gold reserves are now worth $101.9 billion

  • Total amount of Russian gold reserves rose 0.4% in July, reaching 71.3 million ounces or 2,218 tons as of August 1

  • Official figures show gold now accounts for 19.6% of the total reserves of the Russian Federation

  • Russia was the world’s largest gold buyer last year and bought nearly 275 tons, the largest amount ever purchased in a single year, according to the World Gold Council

  • Russia is en route to become the world’s fourth largest foreign exchange holder after China, Japan, and Switzerland


Mark O'Byrne is executive and research director of which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

Due primarily to the California Gold Rush, San Francisco’s population exploded from 1,000 to 100,000 in only two years.

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