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 US Home Prices Climb in May as Supply Remains Tight, Despite High Rates READ MORE Turkish Investors Turn to Gold as Safe Haven READ MORE Major Retailers Offer Discounts to Attract Price-Conscious Shoppers READ MORE Oil Prices Rebound Ahead of Key Industry Reports and Fed Decision READ MORE Gold Soars to New Heights as Fed Rate Cut Hopes Intensify READ MORE Add a Comment Cancel replyYour email address will not be published.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