By April 1st, reserves had dropped to 74.1 million ounces; by May 1st
By April 1st, reserves had dropped to 74.1 million ounces; by May 1st, the reserve decreased by another 500 thousand ounces, and after a month—by an additional 200 thousand ounces, reaching 73.7 million ounces. According to data for July 1, 2026, the gold reserves of the Bank of Russia amounted to 73.4 million troy ounces.
Consensus
- Russia's gold reserves reached a minimum level since February 2020 by July 1, 2026.
- The volume of gold reserves was reported as 73.4 million troy ounces on July 1, 2026.
- Gold reserves have been decreasing for six consecutive months.
- The Central Bank of Russia is responsible for managing the country's international reserves.
- The decline in gold reserves coincided with a drop in their share within total international reserves from 43.6% to 41.5% by July 1, 2026.
- Sales of gold have been ongoing since January 2026, totaling 34 tons by the end of June.
Points of divergence
- Economist Yuri Tverdokhleb stated that gold reserves are used for industrial needs and foreign economic activity, including support to third countries, food supplies, or military components. — gazeta_spb
- The Bank of Russia began real physical gold sales from state reserves in November 2025, typically conducted with yuan; these operations are called 'mirroring' and aim to stabilize the ruble and reduce oil price influence on the foreign exchange market. — vedomosti
- Russia became the world leader in gold sales volume in January 2026. — vesti
- The Ninth Arbitration Appellate Court of Moscow rejected a complaint filed by Euroclear Bank against the Central Bank of Russia regarding an 18.2 trillion ruble claim related to EU plans to use frozen Russian assets for Ukraine funding. — vm
Coverage (7 sources)
- Russia's gold reserves hit a minimum since February 2020 - SPb.ru news — Gazeta.SPb
- Central Bank's gold reserves dropped to minimum since February 2020 — Коммерсантъ
- Gold reserves of the Bank of Russia fell to February 2020 levels — Ведомости
- Russia's Central Bank gold reserves continued to decline in June — Вести
- Central Bank: Russia's gold reserves dropped to six-year low — Вечерняя Москва
- Central Bank's gold reserves dropped to a minimum since February 2020 in June — Коммерсантъ
- Russia's international reserves fell by 3.6% in June to $720.4 billion — Интерфакс
Key entities
- Russia
- Bank of Russia
- CB
- Moscow
- Central Bank
- INTERFAX.RU
- Central Bank
- Saint Petersburg
- SPB RU News Newspaper
- Federal Press
- World Gold Council
- Yuri Tverdokhlebov