Russian gold exports to Hong Kong grow
Russian gold exports to Hong Kong experienced a significant increase during 2026, with approximately 100 tons imported from Moscow in the first seven months, a record high three times greater than the same period last year. This surge comes after Western sanctions imposed on Moscow, prompting Russian producers to shift more of their exports toward eastern markets, especially Hong Kong, which has become a major gold trading hub following the closure of gold trade in London and New York to Russian gold. Additionally, China continues to bolster its gold reserves as part of its strategy to reduce dependence on U.S. Treasury bonds. Meanwhile, the Dutch central bank transferred about 95 tons of its gold reserves from New York and Ottawa to London to prepare for potential crises amid ongoing global political instability.
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