Of course, it’s gold ETFs that are really driving demand for the precious yellow metal, but Russia is doing its bit, too:
Russia is building up its gold hoard
America still has ten times as much gold as Russia, despite the lack of recent purchases. The U.S. has over 8,000 tonnes in its gold reserve. Russia now has about 700 tonnes.
The U.K. has 310 tonnes left. Gordon Brown sold 395 tonnes at the bottom of the market a decade or so ago.
(Source: Business Insider)
