$RUGRES 'August/2023 Accumulation'ECONOMICS:RUGRES
The latest data from the International Monetary Fund’s (IMF) International Financial Statistics (IFS) report shows that Russia’s central bank increased its gold reserves in August, restoring reserves back to previous levels from earlier this year.
“IMF IFS data shows gold reserves at the Central Bank of Russia rose by 3 tonnes in August,” according to Krishan Gopaul, Senior Analyst at the World Gold Council.
Analysts reacted positively to the data, but some raised questions regarding Russia's gold production and where the precious metal is going.
