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 Silver Rally Stalls Amid Speculative Overload: What’s Next? READ MORE UBS Positive on Gold, May Rise to $2,500 READ MORE LVMH Shines with Record Revenue in Jewelry Sales READ MORE CNA- Money Mind: What's Driving Up Gold Prices Despite A Strong US Dollar & Stock Market? READ MORE Warning Signs: Recent Bank Failures and the Fragile Global Financial System READ MORE Add a Comment Cancel replyYour email address will not be published.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