Commodities Buzz: Russia's gold reserves fall 43.5 tonnes to 2,282 tonnes

Russia's gold reserves declined by 43.5 tonnes (1.4 million ounces) during the first half of the year, reducing the country's holdings to 2,282 tonnes, according to the Central Bank of Russia. Despite the decline, the nation's gold stockpile remains valued at approximately $299 billion, underscoring its continued importance within Russia's reserve portfolio. The fall in gold holdings coincided with a broader decline in Russia's official reserve assets, which dropped to $720.4 billion at the end of June from $747.4 billion in May, while foreign currency reserves remained largely unchanged. Although Russia remains the world's second-largest gold producer, central bank purchases have slowed significantly since 2022, with China's central bank continuing to lead global sovereign gold buying.

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