Putin Turns Black Gold to Bullion as Russia Outbuys World - Bloomberg

Putin Turns Black Gold to Bullion as Russia Outbuys World - Bloomberg: Even after Putin’s binge, though, Russia’s total cache of about 958 tons is only the eighth largest, the World Gold Council said in a Feb. 8 report. The U.S. is No. 1 with about 8,134 tons, followed by Germany with 3,391 tons and the Washington-based IMF with 2,814 tons. Italy, France, China and Switzerland are fourth through seventh. While gold accounts for 9.5 percent of Russia’s total reserves, it accounts for more than 70 percent in the U.S., Germany, Italy and France.

GOLD RESERVES