RU · Rank #5Russia gold reserves.
Holdings, flows, and spot value over time
Gold Holdings (Tonnes)
Reserve Value (USD Billions)
Annual Net Purchases / Sales (Tonnes)
Gold as % of Foreign Reserves
Geopolitical backdrop
Russia has massively increased gold to over 40% of reserves post-sanctions, freezing $300B assets, to sanctions-proof and support de-dollarization in BRICS.[1][3]
Gold backing analysis
A rough measure of how much of the country's M1 money supply the market value of its gold could cover. Higher ratio ⇒ stronger implicit gold backing. This country has relatively strong gold backing compared to peers.
Compare with similar countries
Countries in the same region or a roughly comparable size of reserves.
Indicators that pair with central bank flows
Was the market fearful or greedy while Russia was buying? Central banks accumulate in fear — the opposite of retail.
Central banks buy gold, not silver. Track the ratio between the two and see when a swap is statistically favoured.
What gold, silver, and miners have historically done when macro rules (HY spreads, curves, housing) fire.