25/10/2014 14:14
RIA Novosti

Russia

Russian Central Bank could increase gold in reserves

21:01 24/11/2005

MOSCOW, November 24 (RIA Novosti) - The Russian Central Bank could increase the share of gold in the national gold and currency reserves, a senior bank official said Thursday.

First Deputy Chairman of the Central Bank Alexei Ulyukayev said the bank would be purchasing gold "on all markets on which it is available," meaning both domestic and foreign markets.

He also said the bank has not been increasing the share of gold in the past few years and confirmed a $60-billion increase in gold and currency reserves by year's end.

On November 22, Russian President Vladimir Putin said he was in favor of putting more precious metals in the Central Bank's gold and foreign currency reserves.

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