Russia’s gold reserves hit record high – RIA

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Russia’s gold bullion reserves reached an all-time high in September, according to RIA Novosti, which cited data from the world’s central banks.

Russia increased its gold reserves by 2% in September, according to the news agency’s calculations, bringing the total volume of the precious metal in the country’s coffers to 2,360 tonnes, the largest amount in the country’s modern history.

Russia’s gold reserves remain the fifth largest in the world, trailing only the United States, Germany, Italy, and France, and surpassing China’s 2,200 tonnes, according to RIA.

Russia’s gold accumulation is part of a global trend in which central banks have purchased record amounts of the precious metal in anticipation of further economic uncertainty.

According to a recent report by the World Gold Council, China was the largest gold buyer globally during the third quarter of this year, with India, Türkiye and Russia among the other emerging economies to notably increase their reserves.