Russia sells 62 tons of gold reserves in 3 quarters, largest in 28 years, to fund Ukraine war

Russia has sold 62 tons of gold from its reserves over three quarters, the largest such sale in 28 years, with China as the main buyer. The sale is aimed at financing the war in Ukraine, indicating sustained fiscal pressure and reliance on reserve drawdowns. The scale and buyer identity suggest a strategic shift in Russia's reserve management and potential implications for global gold markets.