Russia, Turkey add gold holdings again in Jan: IMF

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stockjockee

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NEW YORK - Russia and Turkey both raised their gold holdings for a second consecutive month in January, data from the International Monetary Fund showed on Friday, underscoring central banks' interest in bullion as part of their reserves.

The IMF's monthly statistics report showed Russia added 12.2 tonnes to increase its gold reserves to 970 tonnes, and Turkey raised its holding by 10.3 tonnes to 370 tonnes in January.

http://www.businesstimes.com.sg/bre...rkey-add-gold-holdings-again-jan-imf-20130223

 

https://miningstockvaluator.com/news-russia-raises-gold-reserves-for-5th-month-in-march-1058
 
The central banks are buying gold at a record level. In fact there are some newbies to gold buying like Indonesia, Kazakhstan and Azerbaijan among others.
 
Very interesting news... I read Azerbaijan bought their first ton of gold just last year!

I'm surprised the Fed is not buying any gold

And European countries are pretty quite about it as well (except for Germany, the Netherlands and Switzerland who are repatriating). Probably because the US and eurozone both have similar interests: cheaper gold, in order to make their fiat float above...

Not sure, but it's weird, how certain regions of the World buy massively, others (like USA, Europe) are "too quiet". I guess it's because the latter are losing with their fiat papers. Too dependent upon fiat. They must continue the game...

I guess if the Fed would buy more gold, that would ruin the current status of the dollar.
ECB similarly... they must keep printing fiat.
 
Not about the central banks, but it's about Turkey

Turkey’s gold import doubles in 7 months
Click to expand...

Turkey’s gold imports reached 217 tons in the first seven months of 2013. Turkey imported around 94.1 tons of gold during the same period of the previous year.
Click to expand...

http://www.hurriyetdailynews.com/tu...onths.aspx?pageID=238&nID=51917&NewsCatID=344

So over 2013 it could work out to 200 tons + of new demand for Turkey, in a market where mine supply + scrap might only equal 3800 tons this year, it's a lot.
 
You have to wonder if Germany is going to get their gold in 7 years after all - or if Turkey, Russia, China, et. al. are going to drain the markets of physical first.
 
PMBug said:
You have to wonder if Germany is going to get their gold in 7 years after all - or if Turkey, Russia, China, et. al. are going to drain the markets of physical first.
Click to expand...

In seven years Hillary Clinton will be starting her second term as President of the United States. A lot can happen between then and now to physical gold... :flail:
 
Aubuy said:
In seven years Hillary Clinton will be starting her second term as President of the United States. A lot can happen between then and now to physical gold... :flail:
Click to expand...

OK, so maybe Hillary only gets one term as President and then the voters wake up and decide we need new leadership in Washington, and Hillary is too old, and so Michelle Obama would be starting her first term as President. Either way a lot can happen between then and now to physical gold. I think I just talked myself into buying some...
 
If "Billary" gets in to office, we're absolutely finished as a nation. The socialist experiment will be finished and so will the nation.
 
ancona said:
If "Billary" gets in to office, we're absolutely finished as a nation. The socialist experiment will be finished and so will the nation.
Click to expand...

Somebody somewhere has already decided who is going to be the next President and they probably work at Google.
 
Turkey’s gold import doubles in 7 months
Click to expand...

Turkey’s gold imports reached 217 tons in the first seven months of 2013. Turkey imported around 94.1 tons of gold during the same period of the previous year.
Click to expand...

OK, stupid question:
Is Turkey actually importing physical gold or is this paper gold? How about Russia? Is there a website that shows, or a way to tell, who is importing phyz and who is simply increasing their paper gold account?
 
Well, I'd assume they wouldn't report that the gold was "imported" if it was just paper or electronic accounting.
 
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