Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Bank of Russia poised to purchase gold

|
|
 
  
Published: Nov. 16, 2009 at 5:51 PM
Advertisement

MOSCOW, Nov. 16 (UPI) -- A Bank of Russia spokesman said the central bank was ready to buy whatever gold the State Depository for Precious Metals and Gems has for sale.

"In certain conditions, we will be ready to buy everything the State Depository offers for sale," deputy chief Alexei Ulyukayev said, RIA Novosti reported Monday.

The Finance Ministry in Russia is contemplating a sale of as much as 27 tons of gold to cover a portion of the state's budget deficit.

Gold prices have repeatedly set record highs in recent weeks. On Monday, gold was priced at $1,140.60 per ounce in New York.

Recommended Stories
© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
The making of the Oscars The Chicago Auto Show The Tibetan Moniam Festival in China
Additional Business News Stories
1 of 19
Tiger Woods plays Spyglass Hill in the AT&T Pro-Am in Pebble Beach, California
View Caption
fark
IRS updates their smartphone app. Will now check your tax return and immediately tell how much jail...
Savannah bans snakes from St. Patrick's Day event. Wait, this was a problem? What the hell, Georgia...
Michelle Obama can hold the mystery meat when she prys it from my cold dead hands ...Wait, that...
Mississippi Rep. wants the Gulf Of Mexico renamed the 'Gulf Of America', raising a glimmer of hope...
Pot smoking drivers 'twice as likely to cause car crash'. Really really slow car crashes
Get ready, it's time for the Fark Weird News Quiz. #suckitBBC