Russia's Central Bank ready to buy up gold from State Depository

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17:2116/11/2009

The Bank of Russia is ready to buy any gold that may be sold by the State Depository for Precious Metals and Gems, the bank's first deputy chief said on Monday.

"In certain conditions, we will be ready to buy everything the State Depository offers for sale," Alexei Ulyukayev said.

The Central Bank's statement to buy up gold comes amid increasing international assets held by the country's top bank, which grew 5.1% in October to $434 billion.

Russia's Finance Ministry is currently considering selling gold from the State Depositary to channel funds into bridging the budget deficit.

The amount of gold to be put up for sale could reach 25 metric tons. Prices for gold are remaining at record high levels on global markets.

MOSCOW, November 16 (RIA Novosti)

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<div style="border:1px solid #d3d3d3; padding:12px 15px;"><div style="padding-bottom:10px;"><a target="_blank" href="http://en.rian.ru/" title="'RIA Novosti' newswire.Top Russian news and analysis online" style="text-decoration:none;"><img src="http://rian.ru/i/rian_logo_small_eng.png" width="121" height="15" alt="RIA Novosti" title="'RIA Novosti' newswire.Top Russian news and analysis online" style="border:0px;font-family:Verdana, Arial, Helvetica, sans-serif; font-size:20px; font-weight:bold; color:#003768;" /></a></div><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/business/20091116/156860573.html"><img src="http://en.rian.ru/images/15538/12/155381263.jpg" width="120" height="83" alt="'Gold fever' strikes again" style="border:0px;float:left;padding:0px 15px 5px 0px; font-family:Arial, Helvetica, sans-serif; font-size:14px;" /></a><a target="_blank" href="http://en.rian.ru/business/20091116/156860573.html" style="color:#000000;text-decoration:none;"><strong style="font-family:Arial, Helvetica, sans-serif; font-size:20px; font-weight:bold;">Russia's Central Bank ready to buy up gold from State Depository </strong></a><p style="font-family:Verdana, Arial, Helvetica, sans-serif; font-size:12px; padding-left:135px;"><span style="color:#5590bf;">17:21</span> <span style="color:#5590bf; padding-right:7px;">16/11/2009</span> <span>The Bank of Russia is ready to buy any gold that may be sold by the State Depository for Precious Metals and Gems, the bank's first deputy chief said on Monday.<a target="_blank" style="color:#d66938; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/business/20091116/156860573.html" title="Russia's Central Bank ready to buy up gold from State Depository ">>></a></span></p></div><div style="padding-top:6px; font-family: Verdana, Arial, Helvetica, sans-serif; font-size:12px;"><a target="_blank" style="color:#d66938; text-decoration:underline;" href="http://en.rian.ru/" title="'RIA Novosti' newswire.Top Russian news and analysis online">Other news of the day</a></div></div>

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Russia's Central Bank ready to buy up gold from State Depository

17:21 16/11/2009 The Bank of Russia is ready to buy any gold that may be sold by the State Depository for Precious Metals and Gems, the bank's first deputy chief said on Monday.>>

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