Russia gold reserves growth

Russia gold reserves growth

Russia has continued filling its coffers with gold, having added almost 7 tons of the precious metal to its reserves in January.

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.