Russia's Finance Ministry will auction large rough diamonds from state reserves, seeking funds amid mounting war costs and following a record gold selloff.
… Russia’s accelerated sale of gold from its reserves. The central bank reduced its holdings for six consecutive months during the first half of 2026
Sadly doesn’t say how much gold was sold and how much is still in Russias safes. Otherwise, one could tell if there was a Mansa Musa effect on the global gold price. And what can be expected for the future of the gold value.
Earlier, reports emerged that Russia’s central bank has reduced its gold holdings for a sixth consecutive month, selling 43.5 metric tons since January in the largest six-month drawdown recorded in at least a quarter-century.
The sales came as Russia’s federal budget deficit approached 6 trillion rubles (more than $76 billion) during the first half of the year.
So we know how much gold was sold, but I couldn’t tell you how much is left.
43.5 metric tons? That war surely is expensive. I wonder what the plan is to get the return on that investment. I’m being sarcastic here. People suffer and die.
Oh would you look at that. Gold price dropped by 20%+ in 2026 after its all time high in January but it’s still more than twice as expensive as 5 years ago. I think I will refrain from jumping to conclusions for now.
Sadly doesn’t say how much gold was sold and how much is still in Russias safes. Otherwise, one could tell if there was a Mansa Musa effect on the global gold price. And what can be expected for the future of the gold value.
From OP’s article:
So we know how much gold was sold, but I couldn’t tell you how much is left.
Thanks. I guess I missed that part.
43.5 metric tons? That war surely is expensive. I wonder what the plan is to get the return on that investment. I’m being sarcastic here. People suffer and die.
Oh would you look at that. Gold price dropped by 20%+ in 2026 after its all time high in January but it’s still more than twice as expensive as 5 years ago. I think I will refrain from jumping to conclusions for now.