Shock figures show the Central Bank of Russia (CBR) has been increasing its holdings of the precious metal every month since March 2015.
Gold reserves spiked to $455.2 billion in a matter of days – between Mach 2 and 9 – an historic high which hasn’t been seen since September 2014.
Russia is now among the top five gold holders after surpassing China, which reportedly holds 1,843 tons.
The Kremlins’s cache of gold has rocketed by more than 500 per cent since 2000.
The regulator of CBR said: “Our international reserves increased by $2.9billion or 0.6 percent in a single week, mainly on the strength of positive re-evaluation.”
Moscow has been aggressively increasing its hoards of gold over the last 15 years in a bid to reduce its dependence on the US dollar.
The CBR has more than doubled the pace of its gold purchase, according to statistics.
The latest figures comes amid a growing war of words between the UK and the Kremlin over the poisoning of former double agent Mr Sergei and his daughter, who are still in a coma following the incident.
Prime Minister Theresa May issued a robust response, branding Russia “culpable” for the attack and expelling 23 of Moscow’s diplomats from Britain.
But Vladmir Putin has denied all involvement and retaliated by expelling 23 British diplomats in turn.