By takumihamano 
The gold trade in Russia has been a topic of significant interest and concern, especially given the current geopolitical and economic climate. This article delves into the latest developments and trends in Russia’s gold trade, providing a comprehensive overview for those particularly concerned about the situation in Russia.
- Record High Gold Prices: As of April 16, 2025, gold prices have soared past $3350 per troy ounce, reaching an all-time high of $3354.65 per troy ounce. This surge in gold prices is attributed to increased demand for gold as a safe haven asset during times of geopolitical uncertainty and global economic tension. Some analysts predict further increases in gold prices in the near future, while others caution against buying gold at these record high prices due to a poor risk-reward ratio compared to other assets for short to medium-term investments.
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Global Energy Cooperation: On April 18, 2025, Russian Minister of Energy Sergey Tsivilev highlighted the increasing value of global energy cooperation during a meeting with Ding Xuexiang, Vice Premier of the State Council of China. The meeting focused on expanding energy cooperation, including discussions on increasing energy resource supplies to China and joint projects involving liquefied natural gas (LNG) and coal export facilitation. This cooperation is expected to have a positive impact on Russia’s gold trade by ensuring stable energy supplies for mining operations.
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Russia’s Role in Global Food Security: On April 16, 2025, Russian Foreign Minister Sergey Lavrov emphasized Russia’s crucial role in global food security. By faithfully meeting its international contract obligations and strengthening its position in foreign agricultural markets, Russia is expected to maintain stable economic conditions that support its gold trade.
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Economic Strategy to 2050: The Russian Government approved the Energy Strategy of the Russian Federation until 2050 on April 14, 2025. This strategy aims to guarantee energy supply, efficient export, energy security, technological sovereignty, and industry competitiveness. The strategy includes infrastructure projects to redirect oil, gas, and refined products to friendly countries, increasing Arctic and Far Eastern port capacities, and utilizing the Northern Sea Route. These initiatives are expected to bolster Russia’s gold trade by ensuring stable energy supplies and enhancing export capabilities.
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Impact of Sanctions: The ongoing geopolitical tensions and sanctions have had a significant impact on Russia’s gold trade. For instance, South Korea is considering lifting sanctions against Russia if the US does so, as reported on March 31, 2025. The lifting of sanctions could potentially open new markets for Russian gold exports and improve trade relations.
In summary, Russia’s gold trade is experiencing significant developments, with record high gold prices and increased global energy cooperation playing crucial roles. The country’s strategic initiatives and its role in global food security further support the stability and growth of its gold trade. However, the impact of sanctions and geopolitical tensions remains a critical factor to watch. As the situation evolves, it will be essential to monitor these trends and their implications for Russia’s gold trade.