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24

President: Central Bank Shoul Increase Gold Reserves

"I think that the bank should pay more attention to precious metals"

The Central Bank should review its gold and forex reserves policy in favor of increasing the weighting of gold, Russian President Vladimir Putin said in Magadan at the gold mining conference on Tuesday.

"I think that the bank should pay more attention to precious metals on Russian territory when forming its gold and foreign-exchange reserves."

"The reserves are after all gold and forex reserves. Let's not be too restrained here," Putin said.