World News | Russia's Gold Reserves Hit Historic High

Moscow [Russia], November 9 (ANI/WAM): The value of Russia's gold holdings surpassed USD 200 billion for the first time ever in October, while bullion's share in the country's international reserves increased to 32.9 per cent, according to the central bank.

The Bank of Russia reported that the value of its gold holdings grew by almost 4 per cent last month, breaking the record set in September. The dollar value of the reserves reached USD 207.7 billion as of November 1. The gold price rose by about 4 per cent in October after reaching a record-high of USD 2,800 per ounce during the month.

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The share of monetary gold in Russia's international assets last month was the highest since November 1999, when it reached 34 per cent. Overall, the highest level in the country's modern history was recorded in January 1993, at 56.9 per cent.

The central bank also said the country's international reserves stood at USD 631.6 billion as of November 1, down by USD 2.1 billion from the previous month. (ANI/WAM)

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