The International Monetary Fund's gold reserves fell by 16.85 metric tons in July as Russia added 16.2 tons to its holdings, according to figures from the Washington-based lender.
Reserves of gold at the IMF were 2,917.07 tons at the end of July, compared with 2,933.92 tons a month earlier, according to data on the IMF website. Russia increased holdings to 726.02 tons last month from 709.81 tons, according to the figures.
The IMF plans to sell a total of 403.3 tons of gold. India, Mauritius and Sri Lanka bought 212 tons last year; and, in February, the IMF said it would begin selling the remainder on the open market.
Central banks have increased holdings; and, according to data compiled by Bloomberg, gold-backed exchange-traded fund assets owned by investors yesterday climbed to the highest since at least 2003.
Gold for immediate delivery traded at $1,249.15 an ounce at 8:06 a.m. in London. Prices climbed to a record $1,265.30 on June 21.
Reserves of gold at the IMF were 2,917.07 tons at the end of July, compared with 2,933.92 tons a month earlier, according to data on the IMF website. Russia increased holdings to 726.02 tons last month from 709.81 tons, according to the figures.
The IMF plans to sell a total of 403.3 tons of gold. India, Mauritius and Sri Lanka bought 212 tons last year; and, in February, the IMF said it would begin selling the remainder on the open market.
Central banks have increased holdings; and, according to data compiled by Bloomberg, gold-backed exchange-traded fund assets owned by investors yesterday climbed to the highest since at least 2003.
Gold for immediate delivery traded at $1,249.15 an ounce at 8:06 a.m. in London. Prices climbed to a record $1,265.30 on June 21.
