world-economy

Russia Liquidates Gold Reserves Amid Economic Pressures

Russia has accelerated sales of gold reserves, generating more than $4 billion in proceeds as central bank holdings reached their lowest levels since the full-scale invasion of Ukraine. The sales reflect economic pressures on Moscow as geopolitical tensions persist. Global precious metals markets remain volatile as major mining producers consolidate operations. Equinox Gold's $5.1 billion acquisition of Canada's Orla Mining demonstrates intensifying competition among producers seeking to expand reserves following significant bullion price gains over the past year. Gold-producing nations including Ghana are implementing policies to secure greater domestic processing of output, signaling shifting strategies in reserve accumulation and currency management worldwide.