MOSCOW, 9th September, 2024 (WAM) -- The Russian Federation's gold reserves witnessed a significant increase by the end of August, reaching US$188.8 billion.
The Central Bank of Russia stated that the value of gold reserves rose by over US$9 billion or 5.1 percent since the beginning of August, bringing the total to US$188.8 billion.
For the first time in a quarter-century, the share of precious metal in the country’s international reserves has exceeded 30 percent.
The rise in the value of Russia’s gold reserves came as global gold prices increased by 3.6 percent, closing last month at US$2,513 per ounce.