economy
February 7, 2026
Russian gold reserves break record
Russia’s holdings of monetary gold have reached an all-time high value of $402.7 billion, according to the country’s central bank
TL;DR
- Russia's gold reserves reached an all-time high value of $402.7 billion as of February 1.
- Gold now constitutes 48.3% of Russia's total reserve assets, nearly matching its foreign currency holdings.
- The surge in value is attributed to an unprecedented rally in global gold prices, reaching record highs.
- Factors driving the gold rally include demand from central banks, inflation, geopolitical tensions, and US dollar devaluation.
- The share of gold in Russia's reserves has risen significantly since before the Ukraine conflict.
- The increased value of gold helps Russia compensate for losses from frozen sovereign reserves in the West.
- The physical volume of Russia's gold reserves has shown minimal change, indicating that the value increase is primarily due to rising prices.
- Russia's central bank has reduced reporting frequency to the IMF since 2022.
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