As Bloomberg's Yuliya Fedorinova and Olga Tanas report, the Bank of Russia has more than doubled the pace of gold purchases, bringing the share of bullion in its international reserves to the highest of Putin’s 17 years in power, according to World Gold Council data.
If Russia’s buying continues at a similar pace, the World Gold Council said the full-year increase in 2017 “could closely match” the 200 tons purchased annually in 2015 and 2016.
What does it mean for Cryptos?
I think if they're getting Gold, we should as well as Cryptos. It's actually the confirmation we need that our crypto world will continue and we ARE NOT wrong at all.