Silver Hits $53 — Up 3.4% in 24 Hours 
Russia’s gold reserves have reached a record $217.4 billion as of March 1, 2025, making it the fifth-largest gold holder in the world, ahead of China. Gold now makes up 34.4% of Russia’s foreign reserves, reflecting the Central Bank’s ongoing buying strategy that accelerated after relations with Western nations deteriorated following the 2014 Crimea annexation.
In 2017, Russia bought 224 tonnes of gold, mainly by selling US Treasury holdings, showing its push to reduce reliance on the US dollar. The United States remains the top gold holder with about 8,133.5 tonnes (74% of its reserves), followed by Germany, Italy, and France, each with over 2,400 tonnes.
The World Gold Council reports that global gold demand reached a record 4,900 tonnes in 2024, with prices rising 27% and breaking records 40 times throughout the year amid economic uncertainties. As of mid-March 2025, gold in Russia was priced at 8,181 rubles per gram, making a standard 10-kilogram gold bar worth about 81.8 million rubles ($1.09 million).
