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Russian cenbank official: gold holdings support national security

Kitco News

MOSCOW, Nov 24 (Reuters) - Russia is increasing a share of gold in its state reserves to beef up national security, Central Bank First Deputy Governor Sergei Shvetsov said on Friday.

Value of gold in Russia's international reserves managed by the central bank increased to $73.7 billion as of Nov. 1 from $60.2 billion at the beginning of the year, the central bank data showed earlier this week.

(Reporting by Elena Fabrichnaya; writing by Andrey Ostroukh; editing by Polina Devitt)

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