At the current pace Russia will pass China in global gold holdings and take the sixth position within the first 2-3 months of 2018. This simply shows how aggressive Russia is towards acquiring gold.
Also of note, if Russia continues this pace of acquisitions she will pass France in early-mid 2021 and be in 5th position, assuming that China doesn’t, once again, begin adding to their “official” gold holdings.
We believe China is adding gold to her gold holdings each month, just not to the “official” gold holdings that are reported to the IMF.
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