Russia has a $140 billion stockpile of gold, but no one wants to buy it

(BUSINESS INSIDER) -- Like the price of crude oil, gold prices have been on a wild ride since Russia began its invasion of Ukraine.

And like oil, Russia holds some of the world's largest reserves of gold — some 2,300 tons of it, worth nearly $140 billion.

The huge reserves of the precious metal were built up over the past decade and a half and were intended to be a sort of economic insurance policy for the country.

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