The Russian central bank will restart buying gold from banks and will pay a fixed price of 5,000 roubles ($52) per gramme between March 28 and June 30, the bank said on Friday.
Russia president predicting countries will start converting their "paper and electronic assets" into "real reserves of raw materials" like "land, food, and gold" - "in the immediate future". pic.twitter.com/s4ZgUIiv6K— Colleen Maxwell (@CollMaxwell) March 27, 2022
The central bank, which suspended gold purchases from banks in mid-March to meet increased demand for the precious metal from households, said the resumption of buying would help ensure sustainable supply and the uninterrupted functioning of gold producers.
Original source: Reuters
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