Russia and Kazakhstan Increases Gold Reserves

Russia-Kazakhstan

Russia and Kazakhstan in April enlarged their gold reserves for seven straight months, buying decreased as the market is still in a drop.

Last month Russia, Kazakhstan, Turkey, Belarus, Azerbaijan, and Greece all moved up their gold reserves, while Mexico and Canada declined.

According to IMF data, Russia has continued as the world’s top gold buyer, and seventh largest gold holder in the world, with 990 tons, increased by 3.4% from last year,.

Kazakhstan moved up its holdings to reach 125.5 tons, an improvement by 8.9%, remaining a 10 month line, and Belarus extended for seven straight months.

Mexico and Canada condensed their holdings.

Gold prices probably will stay stable through the day as together the US and UK trading markets are closed for public holidays.