MOSCOW: The value of Russia’s gold holdings surpassed $200 billion for the first time ever in October, while bullion’s share in the country’s international reserves increased to 32.9%, according to the central bank.
The Bank of Russia reported that the value of its gold holdings grew by almost 4% last month, breaking the record set in September. The dollar value of the reserves reached $207.7 billion as of November 1. The gold price rose by about 4% in October after reaching a record-high of $2,800 per ounce during the month.
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The share of monetary gold in Russia’s international assets last month was the highest since November 1999, when it reached 34%. Overall, the highest level in the country’s modern history was recorded in January 1993, at 56.9%.
The central bank also said the country’s international reserves stood at $631.6 billion as of November 1, down by $2.1 billion from the previous month.
