DiaMondaine Diamantaires Club mulls diamond safari tours in southern Africa

DiaMondaine Diamantaires Club (DDC) is set to organise diamond safari tours in southern Africa, home to major diamond-producing countries. DDC founder Agnes Abdulahu told Rough&Polished’s Mathew Nyaungwa that the launch of the first diamond safari...

15 july 2024

Vladislav Zhdanov: Questions of efficiency and investment potential of diamond mining versus diamond growing pique keen interest

Vladislav Zhdanov is Professor at the National Research University Higher School of Economics (HSE). He told Rough&Polished about new researches into the effectiveness of diamond production methods.

02 july 2024

Why it's expensive to cut and polish diamonds in Africa? ADMA president António Oliveira has the answer

The African Diamond Manufacturers Association (ADMA) president António Oliveira told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that the lack of a robust infrastructure in Africa fails to accelerate and encourage manufacturing...

24 june 2024

Edahn Golan: IPO feasible but not Anglo’s preferred way to sell De Beers

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough&Polished's Mathew Nyaungwa in an exclusive interview that while an IPO of De Beers is “feasible,"  he does not think this is a route Anglo American...

17 june 2024

GemsCouture- avant-garde by Victor Moiseikin

Jewelry items and precious souvenirs of the MOISEIKIN jewelry brand are in the museums and private collections of world celebrities, representatives of the political and cultural elite - from Xi Jinping to the British Windsors, from Angela Merkel to...

05 june 2024

Russia's gold reserves reach a record high

17 january 2024

Russia's gold reserves reached a new record high of $155.9 billion by the end of 2023, according to the Central Bank.

At the same time, in physical terms, stocks increased by 35 tons for the first time since September, and amounted to 2,350 tons. Earlier, the Central Bank reported that Russia's international reserves rose to $598.6 billion on January 1 from $592.4 billion on December 1. This is the highest figure since March 2022.

The share of gold in reserves increased to 26%, which was the highest since March 2000.

The largest reserves of gold in the Russian Federation were recorded in 1993 at 56.9%. Russia invested the least in the precious metal in 2007, when the share of gold in its reserves dropped to 2.1%.

According to experts, Russia is a large gold mining country, so the share of gold in its reserves has always been high. After the introduction of Western sanctions and the freezing of assets in euros and dollars, reserves mainly accumulate in gold and yuan.

At the end of 2022, the Ministry of Finance of the Russian Federation approved a new structure of the National Welfare Fund, increasing the maximum share of reserves in gold to 40%.

Global central banks have also been actively buying up precious metals amid geopolitical tensions. According to the World Gold Council, in the first three quarters of 2023, the accumulated amount of gold (800 tons) turned out to be a record for January - September of any year in the history of statistics (since 2000).

Alex Shishlo for Rough&Polished