Russia Sells 22 Tonnes Gold in 2026 to Cover $61.2B Deficit Amid Demand Surge

Russia's central bank sold ~21.8 tonnes (22,000 kg) of gold so far in 2026, including a 300,000-ounce January disposal, to plug a $61.2 billion budget deficit as of end-March, cutting reserves to 2,304.76 tonnes by April 1. Initial coverage on April 21 noted surging Moscow Exchange volumes up 350% YoY to 42.6 tonnes in March (value ~$7.1 billion). Latest April 23 updates link sales to Putin, highlight record 2024 household buys of 75.6 tonnes, and note strong prices (up ~43% YoY) balancing sovereign supply pressure with robust domestic and global demand.