The Central Bank of the Russian Federation is the leader in gold sales for the second quarter in a row. In the third quarter, the Bank of Russia reduced gold reserves by 18.7 tons, in the second quarter - by 21.8 tons.
It is clear that the step is forced: the deficit of the federal budget of the Russian Federation in 2026 is too large, it must be covered. Selling such fractions of gold partially reduces the severity of the problem, but the deficit cannot be completely covered by selling gold.
China buys gold from us.