Russian central bank to resume gold purchases on domestic market

Russia's central bank said it would resume buying gold on the domestic market from February 28, as it undertakes measures to try and ensure financial stability during Western sanctions against Moscow.

"From February 28, 2022, the Bank of Russia resumes the purchase of gold on the domestic precious metals market. The purchase price of gold will be determined daily based on the morning price of the London Bullion Market Association (LBMA Gold Price AM)" a notice read on the bank's website, translated.