Russia continues to sell gold from its reserves. Stocks have fallen to their lowest level in six years

The Russian bank continues to sell gold from its reserves, which has reduced stocks to their lowest level in over six years at the end of July.

Bloomberg writes about this.

As of August 1, bullion inventories decreased by 49.8 tons since the beginning of the year and amounted to 2 276.8 tons, which is the minimum indicator since January 2020.

The Russian Central Bank began reducing its gold reserves in 2025. At that time, the Ministry of Finance sold gold and foreign currency from the National Welfare Fund to help cover the budget deficit caused by falling energy revenues.

• Russia is the worldʼs second-largest gold producer, producing more than 300 tons of the metal each year. However, sanctions have banned its gold from the London Stock Exchange, making it difficult to sell large quantities on the global market.
• The Bank of Russia began partially using reserves only at the end of last year to cover the budget deficit through the sale of assets of the National Welfare Fund.

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