Russia Stops Gold-Buying Spree After Prices Soared in January
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Russia stopped buying gold for the first time in 10 months after prices had the biggest increase on record.
Gold reserves were unchanged at 38.8 million ounces, or about 1,207 metric tons, as of Feb. 1 from a month earlier, the country’s central bank said on its website Friday. Bullion priced in rubles climbed 35 percent last month, the most in data going back to 2000. In dollar terms, the increase was the biggest in three years.