Russia reveals its gold stash after it adds 1 million ounces gold Russia reserves
Following a pause in reporting, Russia shed some light on how much gold it purchased over the past year.
Yet, Russia's 28 tonnes is still impressive, given that some analysts debated whether the country would be forced to sell some of its gold to cover its growing budget deficit. Looking at the overall changes in Russia's reserves between February 2022 and March 2023, total volume fell 8.9% to $574.247 billion. Total currency reserves decreased 11.9% to $438.683 billion, and gold reserves rose 2.5% to $135.564 billion. The share of gold in reserves rose to 23.6% from the 21% reported a year ago, the country's central bank said.
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