Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

Yesterday

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Russia's gold reserves unchanged in February

22 march 2024

The share of monetary gold in the international reserves of Russia for February 2024 remained unchanged. As of March 1, reserves amounted to 74.9 million ounces (2329.65 tons), according to a statement by the Bank of Russia.

At the same time, the value of gold in reserves as of March 1 increased by 0.66% to $152.521 billion from $151.516 billion on February 1. The share of gold in international reserves also increased to 26.18% from 25.88%.

In March 2023, the Bank of Russia resumed publishing data on the volume of gold in the international reserves of the Russian Federation after a one-year break.

For the full year 2023, the volume of gold in the reserves of the Central Bank of the Russian Federation remained unchanged and on January 1, 2024 they amounted to 75.0 million ounces (2332.76 tons), the same as on January 1, 2023.

By the end of 2022, the share of monetary gold in the international reserves of the Russian Federation decreased by 0.14% (-3.11 tons) to 2298.547 tons. In 2021, the reserves increased to 2301.657 tons. In 2020, they also increased to 2298.547 tons.

During 2019, the Bank of Russia increased its gold reserves by 7.5% (+158.6 tons) and as of January 1, 2020 they amounted to 73.0 million ounces (2,270.56 tons). In 2018, the Central Bank of the Russian Federation bought 273.715 tons of gold and as of January 1, 2019, reserves in gold amounted to 67.9 million ounces (2111.93 tons), gold.1prime.ru reports.

Alex Shishlo for Rough&Polished