News: Russia plans to sell 45 tons of gold before the end of year

According to media reports Monday, the Russian State Library Gokhran precious metals, a source said, Gokhran plans to sell the London Stock Exchange before the end of 45 tons (1.44 million ounces) of gold, Bridesmaid jewelry precious metals such transaction will be the Government's export agency AlmazyuvelirEXport completed.

The Russian jeweler head Valery Radashevich Industry Association said the government has approved the transaction, the proceeds will be used to offset the Headbands wholesale federal budget deficit.

Sources have revealed that last Friday, the Russian government hopes to end of this year, from Gokhran to the global market to sell 20-50 tonnes of gold. The large number of sales of gold will be Prom jewelry in the country Wedding jewelry since the first time since the autumn of 1991.

It is reported that the Russian government gold sales, the world's annual consumption of up to 1.25%. Another two Russian government sources confirmed last week that this sale plan, but declined to comment on the Bridal jewelry sale of the number. A government spokesman Dmitry PESkov said the Government had not yet signed an agreement to allow the sale.

The latest data indicate that the Russian budget deficit this year may reach the gross domestic product (GDP) of 7.5% -7.7%.