June’s gold purchases brought Russia’s gold reserves to a total of 2,208 tons, according to the latest data released by the Central Bank of Russia (CBR). This meant Russia was sitting on a mountain of gold valued at $100,277.6 million as of July 1, the CBR report shows.
Since the beginning of the year the national holdings of the precious metal have been increased by around 96.4 tons amid Moscow’s push to de-dollarize its foreign exchange reserves. More than 6 tons were added to Russia’s coffers in May, around 16 tons in April, and a further 18 tons in March.
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Author: Alexander Light