The Bank of Russia has sold 21.8 tonnes of gold since the start of 2026 to help finance the country’s budget deficit, which had grown to $61.2 billion by the end of March, according to Russian and Ukrainian reports. Russia’s gold reserves declined to 2,304.76 tonnes as of April 1, 2026, including a decrease of 6.22 tonnes in March alone, the Central Bank reported on Monday. Domestic demand for gold within Russia has skyrocketed as the country’s economy struggles in the fifth year of its war with Ukraine. According to the Moscow Exchange, the volume of gold transactions last month was up more than 350% compared to ... (full story)