Gold market and central banks: Russia, Kazakhstan sell as Poland, China buy - AOL.com

AI desk brief

Russia is accelerating gold sales, cutting reserves by about 6.2t in September and roughly 62t since January, while Hong Kong trade data show around 100t of Russian gold reached Hong Kong in January-July, nearly triple a year earlier. The article says China’s central bank is the main buyer of that flow, but the expert quoted argues the transactions should have negligible impact on global gold prices because the sales are occurring outside the London bullion market.

Kazakhstan is also planning to trim its gold reserves, reducing gold’s share of total reserves from about 78% to 75% by year-end, likely to take profits or cover fiscal needs. Poland, by contrast, is still seen as unlikely to sell despite already holding close to its 700t target; the piece argues central-bank buying and safe-haven demand still support the longer-term gold trend even after gold fell 4.4% in the first nine months of 2026, following gains of 25.5% in 2024 and 67.4% in 2025.