Russia's gold reserves gain $216 billion in value amid price surge

Over the past four years, Russia has earned $216 billion due to rising gold prices, according to Bloomberg, citing sources.

This substantial gain largely offsets the impact of the roughly €300 billion in Russian sovereign assets frozen by Western countries.

Gold prices surged by 65% last year, marking the most significant annual increase since 1979.

The price for February gold futures on the COMEX division of the New York Mercantile Exchange reached a new record, exceeding $4,850 per troy ounce.

The Central Bank of Russia had previously reported a record increase in the country's gold reserves.