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phoenix finance news according to russia today (rt), russia's gold reserves are approaching a historical milestone.

the latest data from the russian central bank shows that as of september 1, russia's gold holdings have reached a new high of us$188.8 billion, and the share of gold reserves in russia's international reserves has exceeded 30% for the first time in nearly 25 years.

the report said that since the beginning of august, the value of monetary gold in russia's international reserves has surged by more than $9 billion, an increase of 5.1%. this growth momentum coincides with the upward trend of global gold prices in august, when gold prices rose 3.6% to $2,513 per ounce. therefore, the significant increase in the value of russia's gold reserves is largely due to the revaluation effect brought about by the rise in gold prices.

the highest share of monetary gold in russia’s international assets has been since january 2000. however, the highest level in the country’s modern history was in january 1993, when it reached 56.9%.

central bank data showed that as of september 1, russia's international reserves continued to grow, reaching us$613.7 billion, an increase of more than us$11 billion from the previous month.

russia's international reserves are officially defined as highly liquid foreign assets held by russian banks and the government, including foreign currencies, the international monetary fund's special drawing rights and monetary gold.