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Russia's $40 billion gold-buying binge is slowing down
Or maybe just its gold-acquisition reporting is slowing down.
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By Yuliya Fedorinova and Andrey Biryukov
Bloomberg News
Thursday, January 16, 2020
Russia, the world's biggest buyer of gold, is losing interest in the precious metal.
After spending an estimated $40 billion on gold in the past five years, the central bank is starting to rein in spending. It bought 149 tons of gold in the first 11 months of 2019, 44% less than the year before. Annual purchases are expected to be the lowest in six years.
... Dispatch continues below ...
Dunnedin Drills New Copper-Gold Porphyry Discovery
in 'Gate Zone' at MPD Project in Southern British Columbia
VANCOUVER, British Columbia, Canada -- Dunnedin Ventures Inc. (TSX-V: DVI) today reports results from its first drill program at its 100-percent owned MPD copper-gold porphyry project in southern British Columbia. The MPD project is accessible year-round from paved highways 5A and 97C.
Discovery drill hole MPD-19-003 has intersected the new Gate Zone containing the highest-grade porphyry copper-gold mineralization reported in drill core at the MPD property to-date.
The new discovery underlies a large copper-in-soil anomaly with over 1 kilometre of strike at the "Prime" area of the project. More than 100 historical drill holes containing copper and gold mineralization define a large, likely multi-center porphyry system across 10 square kilometers of the MPD project
The Gate Zone includes intervals of higher-grade copper-gold within a broad lower grade interval, with mineralization present from near surface to a vertical depth of 800 meters, and remains open at depth. ...
... For the remainder of the announcement:
https://dunnedinventures.com/2020/01/16/dunnedin-drills-new-copper-gold-...
Analysts say that Russia's central bank has maxed out the proportion of gold it wants to keep in reserve. They also view the threat of U.S. sanctions and the need for a buffer against economic shocks diminishing as issues like the annexation of Crimea, election interference, and the poisoning of a former Russian spy on British soil fade from public conversation.
To be sure, even at these lower levels Russia is still buying a lot of gold and ranks at the top of the biggest purchasers. The country owns 2,262 tons of the precious metal, worth $106 billion, and stores some in vaults at the central bank in Moscow. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2020-01-16/russia-s-40-billion-g...
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Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
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