Russia's Gold Reserves Decreased by 43.5 Tons in the First Half of the Year

According to Russia's Central Bank, at the beginning of July, the country's gold reserves amounted to 73.4 million troy ounces, or approximately 2,282 tons.

Compared to the beginning of the year, reserves decreased by 1.4 million ounces, or 43.5 tons. The Central Bank values the gold in its possession at 299 billion dollars.

Due to Western sanctions, Russia's Central Bank remains restricted in selling gold on foreign markets.

In the first half of the year, the price of gold fluctuated sharply. In January, the price per ounce exceeded 5,500 dollars, but by the end of June it fell below 4,000 dollars. On Monday, the price of gold was again above 4,000 dollars.

Source: Investing.com