Russia is buying gold faster than China on the world market

26 Feb 2016
The Bank of Russia became a leader in gold purchasing in January 2016.This is evidenced by data of International Monetary Fund (IMF). 
The total amount of gold purchased by the Bank of Russia in January amounted 688 thousand ounces. Besides, Turkey and Kazakhstan were also actively purchasing gold (per 38 thousand ounces), Belorussia (33 thousand ounces) and Malaysia (10 thousand ounces). 
IMF did not include China data into the statistic, though, about 520 thousand ounces of gold were purchased in January according to the information of the People’s Bank of China.  
Canada and Mozambique became the main sellers of gold from gold and foreign exchange reserves in January, according to IMF data. Canada has sold almost 33 thousand ounce gold for a month period, estimating 60% of country’s reserve, and Mozambique — 50 thousand ounces, almost a third of reserve.