Russian central bank gold deal with private bank

RUSSIA - Alfa Bank plans this year to buy nearly 30 tonnes of gold and 200 tonnes of silver, a bank source said.

The bank bought 33.5 tonnes of gold and 120 tonnes of silver last year.

Alfa Bank said in a press release that it had exchanged its gold for silver with the Central Bank of Russia 19-23 October. This was the first time in the history of relations between state and private financial institutions that a transaction to exchange precious metals had been conducted.

The bank source declined