Russia’s gold reserves fall by 43.5 tons in first half of 2026

Russia’s central bank reported that its gold reserves fell by 43.5 metric tons in the first half of 2026, declining to 2,282 metric tons by early July. The article notes that sanctions continue to prevent Russia from selling gold on foreign markets, limiting its ability to monetize reserves. Despite the reserve drawdown, gold prices remained elevated, with spot gold above $4,000 per ounce on Monday after having hit a record above $5,500 earlier in the year before retreating below $4,000 in late June. The headline is mildly negative for gold reserve holders but not necessarily bearish for gold prices overall, since sanctions and still-high prices may keep demand/support for the metal intact.