Russia’s Gold Reserves Increase to Highest Since at Least 1993
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Russia increased its gold reserves above 1,000 metric tons in July for the first time in at least two decades. It joined Kazakhstan in raising holdings for a 10th month, bolstering demand as investors’ faith in the metal waned.
Russia’s holdings, the seventh-largest by country, gained about 6.3 tons to 1,002.8 tons, the most since at least 1993, data on the International Monetary Fund’s website show. Kazakhstan’s reserves rose 1.1 tons to about 132 tons and Azerbaijan, the Kyrgyz Republic and Guatemala also added bullion. Mexico reduced its holdings, the data show.