Historic Surge In Russia’s Gold Reserve As It Reaches $200 Billion

Russia’s gold reserve reached a record high of $207.7 billion in October, according to the central bank. This milestone marks the first time the country’s gold reserves have exceeded $200 billion.

The share of gold in Russia’s international reserves also rose, increasing to 32.9 percent from 31.5 percent last month. This is the highest proportion since November 1999, when gold accounted for 34 percent of Russia’s reserves.

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Historically, in Russia’s gold reserve,the gold share was at its peak on January 1, 1993, when it reached 56.9 percent. The lowest was recorded at 2.1 percent in June 2007, as reported by Xinhua, citing Russia’s RIA Novosti news agency.

Meanwhile, the Bank of Russia reported that the total value of the country’s international reserves dropped slightly to $631.6 billion in October, down from $633.7 billion in September.