Russia says gold policy will change slowly

Russian central bank chairman Sergei Ignatyev said Friday 25 November that any change in the weighting of gold in its reserves would come in years rather than months.

His comments came after we reported last week President Vladimir Putin called for the bank to increase the share of gold in its reserves. Currently the central bank holds a gold weighting of total reserves stands at 5%.

Ignatyev said the central bank's gold reserves had not increased in the past six years and now totaled around 5