Russia's gold reserves on hold

Central Bank of Russia deputy governor Oleg Vyugin was quoted as saying Russia has no plans to increase gold reserves at the moment. He said current conditions were not good for buying gold which is "substantially expensive" and lacks liquidity.

Source: Reuters

The Central Bank has no immediate plans to raise the amount of gold in its reserves, Oleg Vyugin, first deputy governor, was quoted as saying Monday.

"Gold is now substantially expensive and is not very liquid as a reserve asset.

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