Russia c.bank may cut rates again in '09, buy gold

MOSCOW Nov 9 (Reuters) - Russia's central bank does not exclude further rate cuts before the end of 2009 and may buy gold from the state repository, Gokhran, the bank's first deputy chairman, Alexei Ulyukayev, said on Monday.

"We will buy (gold) only if conditions are adequate," Ulyukayev told reporters.

The central bank had bought more than $1 billion in November on the foreign exchange market to cap the appreciation of the rouble, he said.

Ulyukayev also said the central bank had no plans to invest again in U.S. mortgage agency bonds. (Reporting by Yelena Fabrichnaya, writing by Dmitry Sergeyev)