Russia has a $140 billion stockpile of gold, but no one wants to buy it

Marked ingots of 99.99 percent pure gold are placed in a cart at the Krastsvetmet non-ferrous metals plant in Krasnoyarsk

Alexander Manzyuk/Reuters

  • The fifth-largest stockpile of gold in the world belongs to Russia, valued at nearly $140 billion.

  • As with oil, sanctions are making it very difficult for Russia to trade the precious commodity.

  • Demand for gold is still high within the country as the ruble has crashed to record lows.

Like the price of crude oil, gold prices have been on a wild ride since Russia began its invasion of Ukraine.

And like oil, Russia holds some of the world’s largest reserves of gold — some…


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