Thursday, March 4, 2010
Richard Nachbar, (Richard Nachbar Rare Coins) at http://www.coinexpert.com/, was kind enough to send me his updated chart for January of the Russian CB gold holdings:
(click on chart to enlarge)
You can see the rapid growth in Russia's gold accumulation. As per the numbers in my post from yesterday, Russia will have to double its current holdings in order to raise its gold holdings up to the 10% of foreign reserves that is currently typical at Central Banks. Moreover, I expect that globally CB's are looking to take their gold holding substantially higher.
Thanks again to Richard for sending me this updated chart.
Posted by Dave in Denver at 9:59 AM