In a move experts say could shake up the global precious metals market permanently, Russia has announced plans to add silver to its national reserves for the first time. According to a recent report from Russian news agency Interfax, Russia will be buying more gold, silver, platinum, palladium, and gemstones to shore up its reserves and weather the Western economic sanctions and market volatility. The report states that the Russian Finance Ministry proposes to allocate 51.5 billion Rubles in 2025 to buy precious metals and gemstones, according to the draft federal budget for 2025 and the planning period of 2026 to 2027. Russia’s announcement and its decision to include silver in its purchases have been applauded as a historic move that could drive a surge in global demand for the gray metal, which, unlike gold, remains significantly undervalued.
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Credit: Natural Resource Stocks
Russia's Bold Silver Move: A Game Changer for the Commodities Market?
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