In a story by Reuters, the Bank of Russia said its purchases and sales of gold for the National Wealth Fund have “been increasing in recent years” as domestic market liquidity improves. The central bank noted that Western sanctions, which froze its dollar and euro assets, accelerated the pivot toward what it described as the fund’s two remaining liquid assets: “yuan and gold are liquid assets of the NWF.” The transition began in 2023 when Russia removed the dollar, euro, and other Western currencies from the reserve structure. Fiscal reserves are now split between gold and China’s yuan, with explicit targets of 40 ... (full story)