CBR reduces gold in reserves by 0.1 mln ounces in Aug

MOSCOW. Sept 23 (Interfax) - The Central Bank of Russia (CBR) reduced the amount of gold held in its reserves by 0.1 million ounces in August. The format of CBR data does not make it possible to provide a more exact figure.

The CBR said the amount of monetary gold in Russia's international reserves stood at 75 million ounces (about 2,333 tonnes) worth $188.8 billion on September 1. By volume, this was down by a tenth of a percent from the 75.1 million ounces at which the figure had previously remained since the beginning of May, but by value the gold reserves grew by more than 5% in August on the back of rising gold prices.

The CBR actively bought gold in 2014-2019 and was the leading buyer among the world's central banks. But in the spring of 2020 it announced it was suspending purchases and changes in the amount of gold reserves have become more muted since then. The amount of gold in Russia's reserves sometimes decreases due to issues of gold coins.