Central banks around the world sold 66 tons of gold in the first month of spring 2026, according to the latest report from the World Gold Council.
Turkey and Russia led global gold sales, with Turkey offloading 60 tons and Russia selling six tons of the precious metal.
At the same time, several countries expanded their reserves:
- Poland increased its gold holdings by 11 tons,
- Uzbekistan added nine tons,
- Kazakhstan purchased six tons,
- China acquired five tons.
The Czech Republic and Guatemala each boosted their reserves by two tons.
Russia's Gold Strategy and Market Trends
Earlier reports indicated that in January, the Bank of Russia became the world's largest gold seller. The regulator reduced its holdings at a record pace, selling nine tons while other central banks collectively purchased just five tons.
As of early 2026, Russian banks held precious metals valued at 664 billion rubles, based on data from the central bank. Using official accounting prices, this figure corresponds to approximately 60.9 tons of gold equivalent.
Analysts note that, with certain assumptions, this allows an estimate of annual growth in Russian bank reserves at 22.9 tons in gold terms. Although the figure changes regularly and reflects a specific date rather than daily movements, a 60 percent year-on-year increase highlights the scale of these holdings.
Gold Prices and Record Reserve Levels
The Bank of Russia calculates official precious metal prices daily based on market conditions as of 15:30 Moscow time. On February 18, the price of gold declined by 38 rubles per gram, reaching approximately 12,267 rubles.
Meanwhile, Russia's total gold reserves exceeded $400 billion in January 2026. Investments in the precious metal rose by 23.3 percent at the start of the year, pushing reserves to a record $402.7 billion.
