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Posted on 11/22/2025 3:08:00 PM PST by dennisw
Russia’s Central Bank has for the first time begun selling physical gold from its reserves as part of Finance Ministry operations to fund the state budget, the Bank said on Wednesday.
The move mirrors previous transactions involving gold from the National Wealth Fund (NWF), which until now were largely virtual. In those operations, the government sold gold to the Central Bank, keeping bullion in the country’s reserves.
Russia’s gold holdings exceed 2,300 tons, the fifth-largest reserves in the world.
“With domestic gold market liquidity having increased in recent years, the Bank of Russia now conducts equivalent operations on the domestic market not only through yuan transactions but also partially through gold,” a Central Bank spokesperson told Interfax.
The Bank did not disclose the timing or size of the sales.
The NWF held 405.7 tons of gold before the full-scale invasion of Ukraine.
The Finance Ministry has since sold 57%, or 232.6 tons, to cover budget shortfalls, leaving 173.1 tons as of Nov. 1.
Overall liquid assets in the NWF including gold and yuan have fallen 55% to $51.6 billion.
Economists said these gold sales help the Central Bank inject currency into the market to support the ruble while easing pressure on yuan holdings.
“Using gold spreads pressure across markets and maintains reserve diversification,” said Vladimir Chernov, an analyst at Freedom Finance Global.
(Excerpt) Read more at msn.com ...
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Not so fast, Russia is a major producer of Gold, with $75 trillion in natural resources. When the war started, Gold was about $1800 t/oz....today $4,000 plus. They have made $$$ billions, and is mining billions more.
As Sanctions stole their funds in their western sovereign fund, they start to sell off their huge reserves of Gold at record prices.
https://www.gold.org/goldhub/data/gold-production-by-country
China
380.2
Russian Federation
330.0
Australia
284.0
Canada
202.1
United States.....
???
Gold was trading at $2k/oz US two years ago, is now coming back down from $4k/oz US. Sell it at $3,800/oz US now and buy it back later at $2k/oz US.
That is not what Russia is doing.
One does not liquidate capital reserves (on a macro basis) to fund day to day operations. They are not treating it like a speculative investment.
Wheels falling off Putin clown car.
*********************
Nonsense.
The Russians are selling high.
Hoarders don’t make money on anything, they’re too busy holding “My Prescious.”
Putin said to himself -
“Self, since I am Vlad the barbarous, I will sell off this barbarous relic from me personal piggy Putin bank” “I will send me slaves out to mine some more, when they return from me meatgrinder” “For now I get me gold miners from Lil Kims rent-a-Nork”
No wankster I know is selling his old gold-silver, bought ages ago.
“As Sanctions stole their funds in their western sovereign fund, they start to sell off their huge reserves of Gold at record prices.”
They are forced to sell because they are going broke after Putin drained there reserve fund to pay for his two week war.
Santions haven’t stolen anything. They have just frozen the accounts.
“Maybe time for another breaky, Meggy?”
It only took me one post to get into your head. I do believe that’s a record!
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