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This week, the Russian Central Bank reported that it had added to its gold reserves again in 2018, with the sovereign stockpile jumping by nearly 275 tonnes to 2,112 tonnes total. The stockpile, valued at close to $87 billion at today’s exchange rate and comprising 18.6 percent of Russia’s total reserves of $468.5 billion, has allowed Russia to enter the top five countries in terms of gold reserves, surpassing China. Russian gold reserves have been climbing steadily for over a decade, growing from just over 500 tonnes in 2009 to the present figure, a record for modern Russia, and moving ever-closer to the 20th century Soviet record of 2,800 tonnes on the eve of the Second World War. Russia’s status as a major gold-producing country has enabled it to top up reserves largely from gold mined in the country. Although the Russian Ministry of Finance has not yet published the complete 2018 figures on gold production for 2018, January-October 2018 figures reflect a gold output of 264.99…