Russian Central Bank Could Increase Gold in Reserves

From RIA Novosti News Agency
Thursday, November 24, 2005

http://en.rian.ru/russia/20051124/42206145.html

MOSCOW -- 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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