Russian Gold reserves grow by 600,000 ounces in October

(November 22, 2015 - by Louis Cammarosano)

The value of Russian gold reserves rose by 3.45% to $50.58 Billion in October as compared to $48.89 Billion recorded in September.

MOSCOW (Bullion Street): Russia added around 600000 ounces of gold to its holdings in October, according to latest figures released by the central bank on Friday.

The country’s gold reserves grew to 44.1 million troy ounces as of October 31, up 1.37% as compared with 43.5 million troy ounces a month earlier, the bank said.

The value of Russian gold reserves rose by 3.45% to $50.58 Billion in October as compared to $48.89 Billion recorded in September.

Russia, the sixth-biggest holder of the metal, more than tripled its hoard since 2005 and holds the most metal since at least 1993, International Monetary Fund data showed.