Russia replaced its US treasury holdings with gold

Russia’s gold reserves rose to more than $100 billion thanks to rising gold prices and the country’s efforts to boost its bullion holdings. “Russia, right now, obviously wants to buy as much gold as it can while the price is still relatively cheap. That allows it to build up a bigger hoard of gold to replace the diminished value that the dollar is going to play as a reserve currency.” https://www.rt.com/business/465054-russian-gold-reserves-100-billion/