Russian central bank sells 44 tons of gold in first half of 2026

Reuters | July 20, 2026 | 9:49 am Markets Russia and Central Asia Gold

Central banks sell gold for first time in a decade

Russia’s central bank, one of the world’s largest gold buyers, has now halted all purchases. Credit: Kuba/Wikimedia

Russia’s gold reserves stood at 73.4 million troy ounces, or 2,282 metric tons, as of the start of July, according to the central bank on Monday, marking a decrease of 1.4 million ounces, or 43.5 metric tons, since the start of the year.

The value of the bank’s holdings was estimated at $299 billion, according to its website. Western sanctions have prevented Russia’s central bank from selling gold on foreign markets.

Over the first half of the year, gold prices hit a record high, exceeding $5,500 per ounce in January before sliding below $4,000 by late June. On Monday, the spot price of gold held above $4,000 per troy ounce.

“Most of the metal was likely sold to Russian banks via both the exchange and over-the-counter markets,” said Vladimir Chernov, an analyst at Freedom Global.

(Reporting by Elena Fabrichnaya; Editing by Tomasz Janowski)