The National Wealth Fund (NWF) has received the green light to diversify assets by investing in gold as the country’s Prime Minister Mikhail Mishustin signed the relevant order on Friday. “Financial reserves of the NWF can be allocated in the accounts of the Bank of Russia in the form of precious metals, gold in particular, which is traditionally seen as one of the defensive assets,” the cabinet’s press office said. According to the government, the decision, proposed in late 2020, will allow the diversification of the fund’s investments to ensure their safety and increase the yields of allocations. Also on r
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