Russia increased its gold reserves by 30%

According to analysts' estimates World Gold Council, in 2010, Russia increased its gold reserves by 29% to 784.1 m. As a result, today, on this indicator, our country ranks eighth among the other states. Similar rates of increase of own assets showed only Saudi Arabia, who managed last year to buy the 179.9 tons of gold, increasing thus their stocks to 322.9 m. It is known that the regulator is not going to stop there. As stated by the first deputy chairman of the Central Bank George Luntovsky, the Central Bank plans to buy about 100 or more tons of gold a year. Fortunately, Russia has unlimited possibilities for further purchases of gold: its share in international reserves are extremely low, and now accounts for just 7.2%, whereas in other countries this figure reaches at least 25%, and Venezuela, and does have 55% of the precious metal . It is worth noting that in 2010 gold enjoyed great popularity among individuals. Some people bought gold to insure, while others hoped for a profit. As a result, after the financial crisis "eternal values" became a kind of lifeline.