Amid the global hostility shifted towards the Russian Federation, the central bank announced on its website Friday that it increased its gold reserves in the month of June from 34.7 million troy ounces to 35.2 million troy ounces.
Russia’s value of its gold holdings currently stands at $46.29 billion as of Jul. 1, up from 43.46 billion in June, according to a report from Reuters.
Moscow remains one of the top holders of gold reserves in the world. As of 2013, Russia is in seventh place, sitting behind the United States, Germany, Italy, France, China and Switzerland. Experts say the trend suggests Russia to continue stockpiling bullion.
This comes as Russia’s pro-separatist troops in Ukraine have been accused by Western officials of shooting down the Malaysia Airline Flight 17.
At the time of this writing, gold is trading above $1,300 per ounce.
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