Jim Sinclair’s Commentary
Trader Dan sends us this intriguing article.
Russia Central Bank Plans To Buy 100 Tons Of Gold A Year
Mon Jan 24 09:10:31 2011 EST
MOSCOW (Dow Jones)–The Central Bank of Russia plans to buy from domestic banks 100 metric tons of gold a year in order to replenish the country’s gold reserves, Deputy Head of the bank Georgy Luntovsky said Monday, according to the bank’s press service.
In 2010 Russia’s gold reserve increased 23.9% to 790 tons, or 25.4 million Troy ounces.
-By Grigori Gerenstein, contributing to Dow Jones Newswires; [email protected]