Russian gold reserves rose beyond 1,500 tons for the first time

23 Aug 2016
The Russian Central Bank announced this week that its gold reserves in July 2016 reached 48.4 million troy ounces.
According to the updated information of RF Central Bank, as of July 31, the Central Bank vault contains 48.4 millionOz of yellow precious metal. Compared with the previous month, the gold reserves rose by 200,000 ounces. Thus it turns out that the gold reserves of Russia for the first time exceeded 1,500 tons, to be exact, we get: 1505.24 tons (1 troy ounce is about 31.1 gram). It should also be recalled that since the beginning of 2016 the gold reserves of Russia grew by 90 tons, and upon results of last 2015 the yellow precious metal reserves of the country increased by 208 tons. Russia's Central Bank buys gold mainly in Russian gold mining companies, who are not able to sell gold abroad.
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