The country’s total gold holdings amounted to 73.2 million troy ounces (2,276.8 tons) as of February 1, and are worth around $116 billion, according to the latest data from the Central Bank of Russia (CBR).

The bullion stockpile comes at a time of gold price skyrocketing to a 7-year high, as traders have turned to traditional safe havens amid the coronavirus outbreak. The precious metal soared to $1619.20 per ounce on Thursday.