Russia and Kazakhstan are cutting gold reserves, while China and Poland remain buyers
Russia sold about 62 tonnes of gold from its reserves in the first nine months of 2026, and Kazakhstan announced it would reduce the share of gold to 75% of its reserves. An expert from Mennica Skarbowa links the sell-offs to budget needs and profit-taking, and believes the impact on the global market will be minimal.
Otabek Yusupov