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10 February 2013
RUSSIA : President Putin Plays The Gold Bug.
President Vlad Putin believes in gold...as THE standard of protection.
He has turned Russia's black gold...oil...into the real deal.
In the past decade...Moscow has bought more gold...570 metric tons...than any other nation...including China.
Gold's price has soared by 400% since he started hoarding it.
Analysts say Putin got lucky with his bold gold strategy.
'It's kind of a defensive play but it worked...You need luck in politics and business and clearly the guy has it.'
But...other nations are unloading gold.
Yet...Russia is still not the world's top gold hoarder.
It ranks 8th...with 958 tons.
With at least 5 years left in his term as president...Putin plans to keep buying.