The Russian central bank will continue raising the share of gold in its gold and foreign exchange reserves, the central bank First Deputy Chairman Alexei Ulyukayev said on Thursday.

We are not planning to step away from this path. We are acquiring huge volumes (of gold), Ulyukayev told the parliament.

Earlier on Thursday, the central bank data showed that Russia's gold and forex reserves, the world's third largest, rose to $517.7 billion in the week to Oct. 14.