Russians Turn to Gold amid Global Instability

DID Press: The value of Russia’s gold reserves has increased for the fourth consecutive month, reaching $311 billion, marking a new phase in strengthening the country’s currency backing.

In November, the value of Russia’s gold reserves hit an unprecedented $311 billion, once again solidifying the upward trend of this strategic asset.

Recent reports indicate that gold now accounts for 42% of Russia’s total national reserves, reaching its highest level for four months in a row.

This trend also signals a return to Russia’s traditional gold storage policies, a strategy that saw gold constitute about 57% of national reserves during the 1990s.

By contrast, in 2007, the share of gold in Russia’s foreign reserves dropped to a historical low of just 2%.

Economic analysts suggest that Moscow’s accelerated accumulation of gold reflects efforts to strengthen long-term stability in foreign reserves and reduce reliance on assets that could be vulnerable to international restrictions.

Russian financial authorities have also said that gold purchases will continue in the coming months in accordance with market conditions.