Gold Steady At $1,500 As Russia Buys Another 300,000 Ounces Of Gold In July

• Russia increased it’s gold reserves by another 300,000 ounces in July and its gold reserves are now worth $101.9 billion

• Total amount of Russian gold reserves rose 0.4% in July, reaching 71.3 million ounces or 2,218 tons as of August 1

• Official figures show gold now accounts for 19.6% of the total reserves of the Russian Federation

• Russia was the world’s largest gold buyer last year and bought nearly 275 tons, the largest amount ever purchased in a single year, according to the World Gold Council

• Russia is en route to become the world’s fourth largest foreign exchange holder after China, Japan, and Switzerland

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