Russia's Putin says forex and gold reserves are not for financing current economic woes

Russian president out on Reuters

"Gold and foreign exchange reserves are for other purposes. They are not for financing current economic problems"

Putin has been addressing a group of Russian entrepreneurs in Moscow.

With the rally in gold prices posting the biggest monthly gains in four years and currently $1244.90 it's prudent not to go wasting it.

Russia's Putin is coveting the precious.

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