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. Last Updated: 07/27/2016

Gold Reserves Boosted

MOSCOW () -- Russia's Central Bank bought about 100 tons of gold in 1996, boosting reserves to about 400 tons, the bank's precious metals department chief Sergei Kyshtymov, said Tuesday.

Russia's gold output for 1996 is forecast to slip to 110 tons from 122 tons in 1995 and 132 tons in 1994. The Central Bank says it plans to liberalize the domestic gold market to channel commercial bank funds into output.