Monday, December 21, 2009

Gokhran Central Bank sold gold at one billion dollars.

Bank of Russia bought Gokhran 30 tons of gold. The deal amounted to about a billion dollars. The Finance Ministry noted that the gold stored in Gohrane and bought the CBR, "the same number in gold reserves. Therefore, as a result of the transaction volume of gold in reserves is not reduced, and the budget will receive additional funds. In early November, as noted by the agency Reuters, the international reserves of the Central Bank held 19.5 million ounces (approximately 606 tons) of gold. The world market price of ounces of gold on December 21 is just over 1113 dollars. In early December, the value of the precious metal reached a record, surpassing the 1,226 dollars per ounce. In November, Central Bank First Deputy Chairman Alexei Ulyukayev said that the Bank of Russia is ready to buy gold from Gokhran at market prices. Earlier, Russia's finance minister Alexei Kudrin said that the proceeds of the gold funds may be used to buy other resources, including diamonds from Alrosa. Gokhran, an agency under the Ministry of Finance, buying precious metals and dragkamni in State of Russia and sell them. The volume of its reserves are state secrets

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