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Russia raises gold reserves for 8th month, Ukraine cuts again

Russia raised its gold reserves for an eighth month in a row in November, while Ukraine reduced bullion holdings for a second straight month, according to International Monetary Fund data released on Tuesday.

Russia, which has one of the world’s largest bullion reserves, raised gold holdings by 18.753 tonnes to 1,187.493 tonnes last month.

Ukraine, locked in a conflict with pro-Russian separatists since early this year, cut reserves by 2.488 tonnes to 23.639 tonnes in November, following a 14-tonne sale in October.

Turkey raised gold holdings by 11.952 tonnes to 532.984 tonnes in November, according to data on the IMF website.

Source: Reuters

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