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Russia’s Massive Gold Stash Is Now Worth More Than $100 Billion
(Bloomberg) -- Russia’s long-running bet on gold is looking better every month.
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.