“Russia Is Serious When It Comes To Buying Gold” – Gold Goliath

Posted on :Jan 27, 2015

Gold and silver posted gains on Tuesday.  Metals prices are up on safe haven buying and news of the U.S. stock market sell-off. Gold last reported a.m. is $12.95.30 up $15.00 and silver is $18.15 up 15 cents.

Russia continues purchasing gold in record amounts and has done so for nine straight months. So far, Russia has added 20.73 tonnes bringing its total gold holdings to 1208.23 tonnes. Because of U.S. sanctions the Russian economy is expected to slide into a recession adding to the pressure of the Ruble losing 50 percent of its value to date. ¬†Collapsing oil prices are bringing a devastating effect as well due to the fact that about 43 percent of Russia’s economy is derived from petroleum sales.

Credit rating agency Standard and Poor’s cut Russia’s sovereign credit rating to junk status on Monday. For the first time in a decade it is below investment grade but don’t expect Russia to bow down just yet. Russia has a major ace card and its name is China. Both nations are working together and have made it known they do not want war with the U.S. but that they will defend their sovereignty. We can expect the fight to escalate as the BRICS countries continue attacking the credibility of the dollar.

Western bankers will not allow the U.S. dollar to be removed without a world war and it appears they are running in that direction. According to the Pentagon, the U.S. maintains possibly a five year military technological advantage on China. The time to pick a fight is when you see weakness in your enemy, not when you are no longer the bully on the block.

According to Gokhran, the Russian State Precious Metals and Gems Repository, it will also start buying palladium bullion in 2015. Gokhran’s palladium reserves are a state secret and Russia will attempt to keep actual numbers from western bankers. Palladium like silver is useful in industries from jewelry to the automotive industry making it highly prized.

Emerging market central banks have been purchasing the lion’s share of gold over the past several years as they are not concerned with gold price manipulation by the bullion bankers. Either they are crazy or they understand that owning real gold is the difference between living or dying from an economic standpoint. When central banks and governments have no faith in their stock markets or currencies it would be wise to follow suit.

Contact Gold Goliath for any questions you may have concerning precious metals. Silver bullion and silver coins remain available below production costs. 1-800-577-3195

Gold Goliath is not your typical gold dealer.

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