by Dave Kranzler, Investment Research Dynamics:
The enormous effort by eastern hemisphere countries to diversify their reserves out of the dollar and into physical gold is quite remarkable. The latest reports out of Russia show that is has cut its dollar exposure in half since January 2014 and appears to be accelerating its accumulation of gold:
OUT OF DOLLARS (source: Smaulgld.com, U.S. Treasury):
Meanwhile, physical gold held in western custodial accounts at Central Banks and trading exchanges continues its exodus.
Koos Jansen has reported that custodial gold at the Bank of England dropped another 351 tonnes in the latest reporting period: Bank of England Custodial Gold Drops 351 tonnes
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