April 29, 2020 / 9:50 AM / a month ago

Russian central bank sees no need to restart gold buying as of now

MOSCOW, April 29 (Reuters) - Russia’s central bank sees no need to restart purchases of gold for its reserves as of now, it said in a letter to a lobby group of Russian banks, a copy of which was obtained by Reuters on Wednesday.

The central bank confirmed the authenticity of the letter to Reuters.

It suspended gold buying for its reserves on April 1, when it held 73.9 million troy ounces of gold with a value of $119.8 billion. (Reporting by Elena Fabrichnaya; writing by Polina Devitt; editing by Jason Neely)

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