"Moments ago, as if to deter further speculation that Russia is indeed converting hard money earned from real resources for fiat paper, the Russian monetary authority made it quite clear, that at least in November, Russia not only did not sell any gold, but in fact bought another 600K ounces in the month of November."
If Soc Gen had claimed the Russian were selling gold on 30 November, they would have been wrong. But they made the claim on the 19 December.
I am not sure that the Russians have sold any gold during the last two weeks either. No data on reserve composition is due to be released until the end of the month. But given sharp decline in the RUB during December, it would be a bit silly to assume that they hadn't sold gold to fund RUB purchases during December just because they hadn't sold any before 30 November. Derr!
I think that Zerohedge has lowered the bar (again)!
