Russia Adds More Gold as Sanctions Weaken Ruble to Record Low

Russia added to its gold holdings, expanding the world’s fifth-biggest hoard as plunging oil prices and sanctions push the ruble to a record low.

The central bank has bought about 150 metric tons of bullion this year, Governor Elvira Nabiullina told lawmakers today. That indicates it added about 35 tons since the end of September, based on the latest data from the International Monetary Fund. Russia bought 37.2 tons in September, the most since 1998.