The size of Russian gold reserves moved the mark of 1,000 tons

Monetary gold reserves in Russia’s international reserves rose in July compared with June, by 0.6% to 32.2 million ounces (1,001.5 metric tons), according to the materials of the Bank of Russia.

The value of gold in reserves rose by 10.6% to 42.63 billion dollars from 38.547 billion dollars on July 1. The proportion of gold in international reserves rose to 8.3% from 7.5%.

For 2012 growth stock of monetary gold in Russia’s international reserves amounted to 8.5% to 30.8 million ounces from 28.4 million ounces. The value of gold in reserves rose by 14.2% to 51.039 billion dollars from 44.697 billion dollars. The share of gold in the international reserves increased over 2012 by 0.5 percentage points — to 9.5%.

   Russian gold reserves in million ounces from 1994 to the present
(Bloomberg)

The physical volume of gold in the international reserves in recent years has been steadily increasing: January 1, 2007, inventories amounted to 402 tons of gold, on January 1, 2008 — 450 tons, on January 1, 2009 — 519 tons, on January 1, 2010 — 637.6 ton, on January 1, 2011 — 789.9 tonnes on January 1, 2012 — 883.2 tonnes on January 1, 2013 — 958 tons. 

Rosstat reported on August 19 that the extraction of gold in Russia for 7 months in 2013 increased compared to the same period in 2012 by 9.6 percent, the release of raw gold bullion rose by 15.4 percent. At the same time, gold mining in July 2013 increased compared to the previous month by 8.2 percent and by 6.8 percent compared to July 2012. The annual growth in mining and production of gold in Russia there since 2008.

 

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