Central Bank of Russia reduces gold in reserves by another 0.2 mln oz in July

MOSCOW. August 20 (Interfax) - The Central Bank of Russia reduced the amount of gold in its reserves by another 0.2 million ounces or approximately 6 tonnes in July.

The CBR data format does not enable a precise estimate. But the regulator said that as of August 1, monetary gold in Russia's international reserves amounted to 73.2 million ounces or approximately 2,280 tonnes, worth $292.9 billion. This figure decreased by 0.3% over the month in volume and 2.1% in value.

Gold in the reserves has decreased by 0.2-0.3 million ounces each month tgis year or by 1.6 million oz or 50 tonnes in total.

The CBR bought a lot of gold from 2014 to 2019, more than any other central bank. It said in the spring of 2020 that it was putting purchases on hold and gold in the reserves changed little, rising or falling as a rule by no more than 0.1 million oz for several years.