Reported by Bloomberg News

Russia’s gold holdings jumped by 1 million troy ounces over the last year as the central bank bought the metal amid sanctions on its reserves imposed by the US and its allies over the invasion of Ukraine.

The Bank of Russia said it held 74.9 million ounces of gold at the end of February, unchanged from the previous month and up from 73.9 million a year earlier. Over the same period, total holdings of foreign exchange and gold dropped to $574 billion from $617 billion.

The gold hoard was worth $135.6 billion on Feb. 28, 2023, the central bank said.

Read full report: https://www.bloomberg.com/news/articles/2023-03-22/russia-says-gold-stash-grew-during-war-lifting-veil-on-reserves?leadSource=uverify%20wall