If you wonder why so many central banks continue to load up on gold, Russia’s experience with the yellow metal provides the answer.
Russia launched a gold buying spree beginning in 2014. Over the next six years, the Bank of Russia increased its reserves by around 40 million ounces (1,244 tonnes).
During this period, the price of gold ranged from $1,100 to $1,500 an ounce.
Fast forward to today. The price of gold has climbed to $3,000 an ounce, and Russian gold reserves have surged by around $96 billion, a 72 percent increase.
Click here: investing.com/analysis/why-gold-the-russian-case-study-200659236
