Bank of Russia’s gold purchases down 6 times in 2020

The Bank of Russia increased its monetary gold reserves as part of international funds last year by 0.9 million ounces (about 28 tons), or 1.2 percent, Report informs, referring to Interfax.

In 2019, the Central Bank (the Bank of Russia) bought 5.1 million ounces of gold. That is they dropped almost six times in 2020.

At the beginning of January, the volume of monetary gold reserves as part of the international funds amounted to 73.9 million ounces (about 2,300 tons) worth $138.75 billion, the Central Bank said.

The figure makes 23.3 percent of Russia’s total reserves. Due to the rise in gold prices, its value in reserves jumped 25.7 percent over the year.