Russia's Central Bank Adapts Gold Buying Strategy Amid Rouble's Rise Russia’s central bank has announced a shift from its previous stance of purchasing gold at a fixed price, moving to negotiate prices with commercial banks starting April 8, due to significant market changes. This decision alters the March 25 declaration of buying gold at a fixed rate of 5,000 roubles per gram through June 30. The adjustment comes as the rouble has appreciated notably against the dollar, increasing the fixed price’s value from about $52 to $63, despite stable international gold prices around $60 a gram ($1,900 an ounce). This change is noteworthy for Russia, a leading gold producer, especially since the country’s gold refiners have been excluded from the London market, the global hub for gold trading, following military actions in Ukraine. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Optimistic Shift in U.S. Economic Outlook Despite Ongoing Challenges READ MORE Silver Will Be GONE In The Blink Of An Eye…There's A LOT LESS Than People Think! READ MORE BullionStar Perspectives – Rick Rule – Wisdom and Insights from Legendary Mining Investor READ MORE CBO Predicts Decade of Soaring U.S. Deficits READ MORE Singapore – The World’s largest central bank gold buyer in Q1 2023 READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment