Gokhran: Russia’s gold reserves may offset currency fluctuations

YUZHNO-SAKHALINSK, Nov 20 (PRIME) -- Russia’s gold reserves can ensure economic stability during any foreign currency fluctuations, the head of the precious metals and gems repository Gokhran Andrei Yurin said in an interview with Rossiya 1 channel on November 18.

“Russia’s gold reserves amount to over 1,500 tonnes, which is serious reserves owned by the central bank, owned by the Finance Ministry on behalf of the government. Of course, they are big enough to support the economy and the country’s stability despite any foreign currency fluctuations,” he said.

The official also said that the palladium price has almost caught up with the platinum price and has even exceeded it lately.

“However, we feel comfortable about such fluctuations as we have a full range of metals in our reserves,” Yurin said.

End