Amid Ruble Slump, Russian Banks Double Gold Assets in 2025

- Russian bank gold investments exceed 600 billion rubles in 2025. - Surge driven by rising gold prices, weakened ruble. On January 26, 2026, Cryptopolitan reported that Russian banks doubled their gold investments in 2025. Citing data from the daily Izvestia, the report showed these investments exceeded 600 billion rubles ($7.9 billion). This sharp rise from the previous year highlights gold's growing significance as a reliable investment amid economic uncertainty. A 65% increase in gold prices and the sustained weakening of the ruble primarily drove this surge throughout 2025, resulting in Russian financial institutions now holding over six metric tons of gold and solidifying their position in the global gold market. Amid growing geopolitical and economic instability, investors continue to favor gold as a safe-haven asset. Goldman Sachs recently revised its forecast, predicting gold prices will reach $5,400 per ounce by the end of 2026. Similarly, J.P. Morgan projected an average gold price of $5,055 per ounce during the final quarter of 2026. These estimates reflect increased demand from both emerging market central banks and private sector institutions, which aligns with broader diversification strategies. The trend of rising gold reserves extends beyond commercial banks. The Bank of Russia’s holdings have also grown substantially since early 2022. This growth underscores global interest in gold as a stable asset amidst persistent economic volatility.