Major September Buying By Russian And Chinese Central Banks Suggests Gold Market Still Has Long-Term Glitter - Seeking Alpha


Russian gold reserves soar by 1 million ounces in August.

China also increases their gold reserves significantly in August.

Both countries are increasing gold reserves despite negative foreign exchange flows.

This should be positive for investors in gold as both nations believe gold is priced cheaply enough to increase their positions in a weak financial environment.

A few days ago the Russian central bank released its gold reserve data that showed another increase in gold reserves during the month of August.

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