Once the world's top gold buyer, Russia's central bank now a steady seller - investingLive

For years, Russia’s central bank was a dominant force in the gold market, routinely adding to its reserves. That era appears to be over. The institution is now a steady seller—a marked departure from its historical role as the world’s top official-sector buyer.

The shift is likely tied to broader constraints. With economic sanctions in place and a portion of reserves frozen, gold holdings may now serve a different purpose, such as providing liquidity or facilitating settlement, rather than accumulating wealth. It is a reversal that underscores how geopolitical pressure can reshape the behavior of a major central bank.

For the gold market, the implication is nuanced. While Russia’s sales add a new source of supply, other central banks remain net buyers, providing a counterbalance. The key to watch is continuity. If this selling trend persists, it could signal a structural change in Russia’s reserve strategy. If it proves temporary, it will likely be viewed as a liquidity-driven exception.