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Russia relies on gold

For the first time Russia holds more gold than US dollars in international reserves

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Russia has wanted to reduce its exposure to U.S. assets for years. Now its reserves in the form of gold amount to 109.5 billion U.S. dollars or just under 100 billion euros. This is the first time Russia has held more gold than U.S. dollars. 23 percent of the central bank's stockpile is now in the form of gold. Dollar assets fell from more than 40 percent in 2018 to 22 percent today. In doing so, Russia aims to reduce the risk of U.S. sanctions. As a result, Russia is now likely to be the world's largest buyer of gold.

Decoupling from the US dollar and the creation of stable reserves are the intentions behind this. In 2020 alone, Russia has acquired 274 tons. Gold also has the advantage of being an asset that does not contain a claim against third parties.

Other central banks are also increasingly betting on gold. Just over a week ago, the World Gold Council released current data. Gold assets have increased (mostly until the end of November 2020) in India, Qatar, Uzbekistan, Kazakhstan, Malta and Ukraine. Gold holdings declined in Turkey and Mongolia.

Central banks know why they back gold. The value retention of gold is simply unbeatable compared to currencies and other forms of investment. A few gold shares in the portfolio would also not be bad for the investor, for example from Condor Gold or Tarachi Gold.

Condor Gold - https://www.youtube.com/watch?v=4tSmFPSMTDk - is making good progress on its La India gold project in Nicaragua. The project is wholly owned by Condor Gold and is 98 percent located on the historic La India gold mining district.

Tarachi Gold - https://www.youtube.com/watch?v=lauHNuCYADI - is well funded to advance projects in Mexico on promising land in Sonoro in the famous Sierra Madre Gold Belt.

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also
applies: https://www.resource-capital.ch/en/disclaimer/

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