Russia hoarding gold, trading China in local currency for oil

http://www.upi.com/Top_News/World-Ne...5241415977738/

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Direct transactions between the Russian and Chinese currencies amounted to $5.2 billion in October, up from $307 million in September

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That is a 6x increase in 1 month.

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To further keep the value of the ruble up without using U.S. dollars, the Russian Central Bank purchased 55 metric tons of gold in the third quarter of 2014.

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from:
http://finance.yahoo.com/news/putin-...113000939.html

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The World Gold Council, which tracks demand for the metal, said in its report for the third quarter of 2014 that the Russian central bank accounted for more than half of the gold purchased by central banks in the three months ending with September.

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Since this time last year, Russia has increased its total gold holdings by 25 percent, meaning its gold reserve is now the fifth largest in the world. Its holdings have tripled in the past decade.

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And silver demand is heating up on the street. People are talking silver again.