(Kitco News) – Russia’s gold reserves have declined by 1.4 million ounces, or 43.5 tonnes, since the start of the year, according to the latest data from the Central Bank of Russia (CBR).Russia’s sovereign gold reserves stood at 73.4 million troy ounces, or 2,282 tonnes, as of the start of July, the CBR announced on Monday. The central bank estimates Russia’s gold holdings are valued at $299 billion.