The Central Bank of Russia has increased gold purchases to the maximum since the start of the year.
In July Russia bought slightly over 26 tons of gold, increasing its gold reserves to 2170 tons valued at $77.4 billion.
A larger purchase was only in November 2017.
The Central Bank started increasing gold reserves in 2007, when they were around 400 tons. The purchases totaled some 23 tons per quarter. By 2014 the gold reserves have reached 1041 tons. Since then the quarterly purchases grew to 47 tons and as of Q2 the bank had 1891 tons of gold, more than China (1842.6 tons). (Ukrainian metal)
