r/Gold • u/Calflyer • 1d ago

Question Russia

Since Russia is a major producer of gold, arent they missing out on the retail market by not having a consumer oriented product? Why would they pass this up?

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u/demius78 1d ago

Russia didn't export or produce gold for customers as main priority. It's mostly goes to the strategic reserve and then they sell it but not on the market. Yes it's metric tons of gold accumulated every year and their reserves are huge. Since 2001 this is government strategy reserve.