Bank of Russia fixes gold price and increases loans

Central bank announces new emergency measures after fresh round of US sanctions


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

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