The Russian Central Bank announced this week that its gold reserves had reached 48.4 million troy ounces (approximately 1,505 metric tons).

Year to date, the Russian Central Bank has added over 90 tons of gold to reserves. Over the past two years, Russia has led the world in adding gold to her central bank reserves, ahead of the People’s Bank of China, the central bank that has added the second largest of amount of gold.

As of July 31 2016, gold constituted about 12% of the Central Bank of Russia’s $394 billion reserves with her gold hoard valued at approximately $51 billion.