The modern world lives under the conditions of the Jamaican monetary system, created in the late 70s of the twentieth century. It is based on the "floating" rates of major world currencies. The Jamaican system, in turn, replaced the Bretton Woods system, according to which its gold content was considered the universal equivalent of the value of a particular monetary unit. Thus, since 1978, the yellow metal has become simply a commodity, the price of which can rise and fall, depending on the world market. Russia's gold reserves are a stabilization tool and a guarantee of independence.
Does this mean that gold has lost some of its magical properties, and people no longer "die" for this metal? No, it doesn't. The economic power of the country is determined by many economic indicators, and one of them is the gold reserves, measured in tons, millions of troy ounces or other units of mass. In this case, the expression "has weight" gets the most direct and immediate meaning.
In the context of the global crisis, leading economists often express doubts about the effectiveness of the Jamaican monetary system, there are even voices about the possibility of returning the goldequivalent.
Russia's gold reserves are mostly stored on Pravda Street in Moscow. Data on its size is currently not a secret, in contrast to Soviet times. However, this information is published once a year, in the fall, which means that the number may well grow. The gold reserves of Russia (2012) as of the beginning of October amounted to 30,000,000 troy ounces, (for reference, 1 troy ounces=31.1 g), or 933 tons.
This national treasure is stored in standard ingots of several standard sizes. Gold is a heavy metal, so a kilogram ingot can disappoint with its more than modest geometric dimensions.
Compared to many other reserves, Russia's gold reserves are not the largest, but sixth place among world leaders means something, especially considering the general trend of its growth. This year alone, it has increased by more than three dozen tons.
Some decline in Russia's gold reserves experienced with the onset of the global financial crisis. Then part of the precious metal was spent in
in order to stabilize the national economy, but soon the curve went up again, and now, perhaps, nothing will stop it.
Dynamics of gold prices also inspires optimism, it has a pronounced upward trend. The number of minerals on the planet is limited, precious metals are used not only for trading operations and the manufacture of jewelry, they are widely used in technology, especially in electronics.
The gold reserves of the Russian Federation are replenished by purchasing precious metals from mining companies. There is no point in acquiring the "yellow metal" from foreign producers on a large scale; huge reserves of natural gold make it possible to manage with internal reserves. The exceptions are situations in which the price of this metal suddenly starts to fall due to a sharp increase in supply, and it needs to be supported.
Russia's gold reserves are a guarantee of the country's financial stability, the strong position of the ruble, and its growth testifies to the economic independence of the state.
