central banks will continue to buy gold #2

central banks will continue to buy gold you'll be able to confirm that in their upcoming balance sheets reports. pay special attention to China & Russia enjoy the dip, because smart money is!

both Russia & China increased their gold holdings since I wrote this 😄 indeed - central banks are continuing to buy the gold dips

a clarification: the table is CBR's gold holdings in USD - so the value goes up if price of gold goes up and gold stock remains at least unchanged troy ounce holdings are released in an IMF-templated PDF report, but with a lag CBR's latest data is 79.4 M troy ounces of gold

and yes, to get this data i had to download an excel file from Russian Central Bank's website. that's a norm in banks's international balance sheet reporting HTML hasn't been discovered there yet 😄

IMF's guidelines mandate for the data to be either reported in Excel spreadsheet or SDMX IMF pls update the specs to require publishing in HTML - i will happily provide you with XML to HTML scripts 😄

if you noticed - the IMF template reported by Russian Central Bank is missing entries so they're actually supposed to report those values (or N/A - if it doesn't apply), but since the 2022 sanctions they have concealed some of the values

IMF's 2024 annual report on SDDS compliance pointed out that Russia hasn't been meeting its requirements to the full extent, since they didn't disclose all of the required macro-financial data SDDS = Special Data Dissemination Standard

so did Russia really buy more gold? yes! despite CBR's gold reserves remaining unchanged - Russia's NWF has increased its gold reserves Russia's National Wealth Fund interoperates with the Russian Central Bank, government deficits and the broader economy