Central banks split over gold: Russia is selling, China is buying - Euronews.com

AI desk brief

Russia has sold about 62t of gold since January, including a further 6.2t in September, while Kazakhstan is also trimming reserves and China is cited as the likely buyer via Hong Kong rather than the London market. The article argues the flow is unlikely to move global prices materially because the Russian sales are being executed outside London and Kazakhstan’s planned reduction is modest and gradual.

Poland remains a buyer and is said to be close to its 700t reserve target, with the expert arguing reserve accumulation could continue beyond that level because of credit and currency-stability benefits. World Gold Council figures cited in the piece show gold up 25.5% in 2024 and 67.4% in 2025, but down 4.4% in the first nine months of 2026, with the author framing any near-term pullbacks as temporary within a longer-term uptrend.