Russia’s huge gold stash is worth more than $100 billion

Bloomberg/Yuliya Fedorinova and Anna Andrianova

“The country quadrupled gold reserves in the past decade as it diversified away from U.S. assets, a move that has paid off recently as haven demand sent prices to a six-year high. In the past year, the value of the nation’s gold jumped 42% to $109.5 billion and the metal now makes up the biggest share of Russia’s total reserves since 2000.”

USAGOLD note:  Russia’s reserve gains via appreciation of the precious metal will not be lost on a whole host of other countries looking to move in the same direction. This is an interesting article. . . .

Repost from 9-9-2019

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