Russia's VTB to supply 15-20 T of gold to China in next 12 months
By GCRU Gold News on Tuesday, September 13 2016, 23:26 - Permalink
- VTB plans to supply 15-20 tonnes of gold to China in the next 12 months;
- VTB plans to continue increasing gold supplies to China, the exact volume of supply is subject to demand in the region;
- In April, VTB said it aimed to supply between 80 and 100 tonnes (2.57-3.22 million troy ounces) of gold to China per year;
- In the second quarter of 2016, VTB dispatched its first batch of gold to China, becoming the first Russian bank to start direct supplies of physical gold to the world's largest buyer and consumer of the precious metal.