UPDATE 1-Russia c.bank may cut rates again in '09, buy gold

*C. banks says more rate cuts possible in '09

*C.bank may buy gold from state repository Gokhran

*C.bank buys $1 bln on market to keep rouble rise moderate

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By Yelena Fabrichnaya

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.

Last month, Russian media reported that the government planned to sell 25 tonnes of gold, possibly on the local market, from the repository. [ID:nLT717764]