Russia takes lead in gold purchases in May

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The Bank of Russia was the largest purchaser of gold among central banks in May, accumulating some 15.5 tonnes compared with 0.1 tonnes in April, according to the latest figures released by the World Gold Council (WGC) on July 9.

The Russian central bank took over as the top monthly buyer from Central Bank of the Republic of Turkey which bought 29.7 tonnes in April but cut its purchases to 5.7 tonnes in May. Russia's gold reserves now total of 911.3 tonnes, up 28.4 tonnes for the year and

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