Monday, October 6, 2025

Latest

Russia’s Share of Gold Exceeds US Dollar Holdings for First Time Ever

With tensions between the US and Russia escalating over the past several years, the latter country has been been on a path of gradually reducing its exposure to US assets. As a result, Russia’s share of gold in its $583 billion worth of international reserves has finally outpaced its dollar assets for the first time on record.

According to a recent report published by the Central Bank of Russia and later reported by Bloomberg, gold accounted for 23% of the bank’s stockpile by the end of June 2020, meanwhile the share of US dollar assets declined to 22% — a significant drop from the 40% reported back in 2018. The ‘de-dollarization’ shift is part of President Vladimir Putin’s larger strategy to to reduce the Russian economy’s dependence on US assets, especially amid increasing US sanctions and disintegrating relations with Washington.

Aside from the Euro, gold now accounts for the second-largest asset in the central bank’s reserves. The rise in the country’s gold reserves was largely the result of a 26% price surge between June 2019 and 2020, prompting the Central Bank of Russia to purchase approximately $4.3 billion in gold. Russia has become one of the largest buyers of gold in the world, spending more than $40 billion on the precious metal over the past five years.


Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Centerra Gold Takes Former Director To Court Related To Kumtor Mine Seizure

Centerra Gold Inc. (TSX: CG) announced Thursday that it has started court proceedings in the...

Friday, May 21, 2021, 09:05:10 AM

Canagold Resources: Promising Initial Drilling Results at New Polaris Gold Project

On July 6, Canagold Resources Ltd. (TSX: CCM) announced high-grade assay results from the first...

Thursday, July 8, 2021, 12:39:00 PM

Orano’s $1.6B Mongolia Uranium Project in Limbo Over Political Tensions

A $1.6 billion uranium mining deal between France and Mongolia, aimed at diversifying France’s nuclear...

Monday, February 26, 2024, 02:05:41 PM

Newlox Gold Appoints Dr Marcello Veiga To Chairman Of Newlox R&D

Newlox Gold Ventures (CSE: LUX) this morning announced the appointment of a chairman for its...

Tuesday, February 23, 2021, 09:47:09 AM

Article 4: Russia and North Korea’s Bold Move Towards Mutual Defense

Russian President Vladimir Putin and North Korean Supreme Leader Kim Jong-un signed the “Comprehensive Strategic...

Thursday, June 20, 2024, 12:52:00 PM