Russia holds more than 2,200 tonnes of gold, Central Bank chief says

Russia ranks sixth in the world by the amount of gold held in its reserves, with its holdings exceeding 2,200 tonnes, Central Bank Governor Elvira Nabiullina said on September 11.

“We rank sixth in the world in terms of gold reserves, with more than 2,200 tonnes,” Nabiullina said during a meeting of the Central Bank’s board of directors.

The precious metal is actively used to produce coins, and in operations conducted by Russia’s Finance Ministry, Nabiullina said, adding that other information about its use is not disclosed.

Addressing a slight decline in Russia’s gold holdings, the Central Bank chief said the trend runs counter to global developments because of the country’s leading position in the sector. Countries seeking to increase their gold reserves, she said, are effectively trying to catch up with Russia.

The comments come as interest in precious metals among Russian investors has increased, with the number of people investing in the asset class reportedly doubling. The trend has also raised questions about how long the current boom will last and whether the market could see a repeat of the decline recorded in January.

Meanwhile, Russia’s international reserves reached $769.022 billion as of September 1, 2026, according to a Central Bank report published on August 7. The figure represented an increase of $48.674 billion, or 6.76%, from the beginning of August.

By Tamilla Hasanova