Bank of Russia fixes gold price and increases loans

russia-1

Russia’s central bank will buy gold at a fixed rate below current world prices from banks for three months, it announced today (March 25).

It also increased a measure aimed at significantly increasing the amount of loans made by Russian banks.

The Bank of Russia said today it would buy gold at 5,000 rubles, currently around $49.90, per gram from March 28 to June 30. That puts the fixed price somewhat lower than the current world gold price. Comex, the reference price for gold, priced gold at

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: