Russia “Bought Gold” For “Diversification” – Central Bank Governor

Thursday, June 18, 2015
By Paul Martin

By: GoldCore
GoldSeek.com
Thursday, 18 June 2015

– Russia “bought gold” for “diversification” – Russian Central Governor Nabiullina
– Russian central bank prefers gold bullion to euros or dollars
– Russia points out that other countries have a “bigger share of gold in their reserves”
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The Russian Central Bank Governor told CNBC this morning that Russia has bought and will continue to buy gold bullion for “principles of diversification.”

In an interview with Geoff Cutmore of CNBC, Elvira Nabiullina was asked

“Why would you be adding significant amounts of gold at this time when you could be taking euros or dollars or other foreign currencies to makeup reserves?”

Elvira Nabiullina said that the Russian central bank believes in diversification and bases itself

“upon the principles of diversification of our international reserves and we bought gold not only last year but during the previous years. Our gold mining industry is very well developed and it is ready to supply gold. That is why our attitude towards here is based upon diversification of our reserves.”

The Rest…HERE

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