Kremlin Liquidates Gold Reserves to Historic Six-Year Lows Amid Escalating Budget Demands
10 Articles
10 Articles
The gold reserves of the Central Bank of Russia have fallen to the lowest level since the beginning of 2020, and their value has fallen by almost $34 billion in seven months.
The scale of the reduction of the gold stockpile is almost unprecedented in Russian history.
Kremlin Liquidates Gold Reserves to Historic Six-Year Lows Amid Escalating Budget Demands
The Central Bank of Russia’s gold reserves fell to 73.2 million troy ounces, or 2.28 thousand tons, as of August 1, reaching their lowest level since January 2020, according to The Moscow Times on August 20. Holdings declined by 0.2 million ounces in July alone, bringing total reductions since the start of the year to approximately 50 tons. The value of gold within the country's reserves dropped by $33.7 billion over the seven-month period. We …
The Russian Bank's gold reserve is steadily declining. The central bank continues to sell gold from this reserve, which made it possible for the reserve to fall to 73.2 million ounces of gold by 1 August 2026, i.e. the equivalent of about 2,300 tonnes:
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