Published: 2021.01.16. The cost of gold in the Russian Federation has exceeded dollar reserves

The cost of gold in the Russian Federation has exceeded dollar reserves - Preview

From the published data, it follows that the share of gold in the international reserves of Russia as of June 30, 2020 was 22.9%. By this time, the share of dollar reserves decreased by 22.2%. At the same time, the value of Russian gold amounted to $ 128.5 billion compared to $ 124.6 billion in foreign exchange reserves. The share of the European currency also fell to 29.5%, while the share of the Chinese yuan fell by 12.2%. These data were published by the Central Bank of the Russian Federation only recently with a 6-month delay. The growth in the value of Russian gold is primarily due to the growth in the world price of the yellow precious metal. It is also worth recalling that from April 1, 2020, the Central Bank of Russia stopped increasing the country's gold reserves for unknown reasons. Since then, the state's gold reserves have remained unchanged at 73.9 million ounces.