Russia’s central bank forced to sell gold
HalfDime
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"For the first time in its history, the Central Bank of Russia (CBR) has begun selling from its reserves directly to the domestic market, enabling banks, state-owned companies, and investment firms to purchase sovereign gold, according to a report from Ukrainian news service UNN citing the country’s Foreign Intelligence Service.
“For the regulator, this is a forced step: gold is effectively becoming a tool to support the ruble, patch up corporate liquidity, and cover budget needs amid the rapid depletion of other resources,” the report said.
The move is unprecedented: Before 2025, the CBR never sold its gold to commercial market participants, only receiving it through the Ministry of Finance to increase its reserves. But with the country’s National Welfare Fund seeing its liquid assets decline from $113.5 billion in 2022 to $51.6 billion in 2025 – and the fund's gold holdings falling 57% from 405.7 tons to 173.1 tons – the central bank has no choice but to sell off its reserves."
We will know it's getting worse if they start selling the Vodka too.
Comments
Russia is in deep trouble economically. The UK Telegraph has done great work on this in recent months. Read AEP.
Reserves are held for when needed.
Russia has plenty of black gold and Nat. Gas, same as money.
When gold and silver move together, it signals the coming end of fiat money.
Capitalism works ….. buy - sell- trade.
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The Russians have always been selling the vodka. They just keep making more. 🥴
Knowledge is the enemy of fear
A really unbiased source, right? Like all those claims by the western press they were losing the war.
Reality is somewhere in the middle.
While selling more than 50% of your gold to stabilize the Ruble is obviously a very bad decision driven by desperation...
Russia is selling gold when the gold is at a high point, which is at least one point in their favor.
I hope the keep selling until they are depleted.
Llamas and alpacas are camels. They aren't like camels, or related. They are camels. When was anyone going to tell me this?! How long had Bill Nye been holding out on us?
Price seems to have stabilized within a few hundred dollars, so they are selling at a favorable time.
"A dog breaks your heart only one time and that is when they pass on". Unknown
I'll take Russia's trajectory over UK's or EU's for that matter, any day. Who is buying the Russian gold and for what purposes. How much do they have un-mined in the ground. Europe is screwed though. Many of them including UK need IMF bailout.
A Russian energy company can keep all that money from selling to the EU in a bank account that may get seized - or they can buy gold...
according to a report from Ukrainian news service UNN citing the country’s Foreign Intelligence Service.
hmmmmm.
Russia is in deep trouble economically. The UK Telegraph has done great work on this in recent months. Read AEP.
The UK has no room to talk about economic troubles.
I knew it would happen.
I'm not sure what the point was in referring to the Telegraph. I haven't read it directly, but I have read and heard repeated quotes from numerous western media (US and Europe) over the last almost four years from "experts" claiming how sanctions or whatever were supposedly going to collapse Russia's economy. Not surprising it didn't happen because yes, there are other countries to trade with other than the "international community" who (Europe) last I heard is still buying Russian energy even now.