The crisis is not an obstacle for Russia.
Everyone knows that the world is in the financial crisis. In such circumstances, the governments of all countries think most of all about the preservation of the state's capital and turn to a reliable asset such as gold. Many countries of the former Soviet Union, in contrast to Western countries, continue actively to increase their gold reserves. In September, the leading position of gold transactions belonged to Russia, Kazakhstan and Azerbaijan
Since many central banks are buying gold to increase their gold reserves, it could affect the price of gold. Large volumes of sales may result to a shortage in physical gold, which in turn, will lead to an increase in prices. The data of September showed that the Central Bank of Russia added to its gold reserves 37 tons of this noble metal. Today, Russia holds 1,149 tons of gold. This figure, according to Reuters, has exceeded 10% of total international reserves of the country.
Kazakhstan and Azerbaijan are also among the leaders by the number of gold purchased in September. Kazakhstan's gold reserves increased by 2.1 tons and are 184 tons, and Azerbaijan, respectively, by 4 tons, which amount to 27 tons.
Reasonable central banks are not afraid of the price of gold, because gold is always considered the best safe-haven protecting the savings of its owner.
Meanwhile during September, Turkey was also noticeable in the gold market. The country purchased 12 tons and today its gold reserves are estimated at 532 tons. In early October, the price of gold fell to its lowest level since last summer. Now the price of gold began its rise, as in the nearest future there may be a shortage of physical gold
Now it is the best time to buy gold when the price is available, both for investors and for ordinary people. The clients of Emgoldex enjoy this favorable moment. They buy gold at the best prices in the online store of the company.
Share this useful information with others, so they will have time to protect their savings in the same way as the countries of the former Soviet Union and the customers of Emgoldex who buy gold on the most favorable conditions in the company's online store.
Category: Gold news Publication date: 2014-11-04 08:45
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