Russia’s gold reserves have fallen to their lowest level since March 2022
23 March 07:15
The Russian Central Bank’s gold reserves have fallen to 74.3 million troy ounces. This is the lowest level in the past four years.
Russian propaganda media are reporting this, citing data from the regulator, according to [Komersant].
According to the data, the Central Bank’s gold reserves have been declining for the second consecutive month: in January, they decreased by 300,000 troy ounces, and in February by another 200,000. There are 74.3 million troy ounces of gold in storage—the lowest level since March 2022 (74.1 million).
At the same time, the Russian Federation remains the world’s fifth-largest holder of gold reserves. In this regard, Russia trails the United States, Germany, Italy, and France.
Previously, journalists from the Chinese publication Sohu stated that Russia had saved a significant portion of its wealth from confiscation by the West by investing in gold. They noted that several years ago, while the rest of the world was buying securities, Russia began purchasing gold. As a result, Russia increased its gold reserves by 300%, storing them in domestic vaults.
