The eight countries with the biggest stockpiles of gold

Amid news that Russia has increased its gold reserve for the sixth straight month, this graphic from Statista shows the top eight bullion hoarders in the world.

Gold is held by many central banks as a "store of value" that maintains a relatively steady price and is therefore a low risk form of long-term insurance policy should a country's currency crash.

Russia added 37 metric tonnes of gold to its reserve last month in a bid to reduce the impact of international sanctions on the country's $2 trillion economy.

The price of gold hit $1,183 per ounce last month - the lowest value since June last year, according to Reuters.

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