Russia Sells 6.2 Tons of Gold in September, Reserves Hit Lowest Level Since 2019

The Central Bank of Russia sold approximately 200,000 ounces of gold, equivalent to 6.2 tons, in September, according to the "Gene10" website. The country's reserves fell to 72.8 million ounces, or about 2,264 tons, reaching their lowest level since the end of 2019.

This marks the tenth consecutive month that Russia's gold holdings have declined. Consequently, Russia has sold about 62 tons since December 2025, according to figures provided by the source.

The market value of the reserves recorded around $301.6 billion at the end of September, compared to $333.5 billion in the previous month.

The source stated that Russia is liquidating its gold reserves because the government is finding it difficult to cover the growing federal budget deficit, with security and defense expenditures expected to represent 38% of total federal spending in 2026. The report did not specify the destination of the sold gold, and gold reserves are counted among the state's reserve assets, with data typically published monthly.

What Do These Terms Mean?

Ounce: A unit of weight for precious metals equal to about 31.1 grams, and gold is priced internationally in ounces.

Gold Reserves: The amount of metal held by a central bank within state reserve assets to support the currency and meet foreign obligations.

Central Bank: The official institution that manages monetary policy and foreign reserves in a country.