Russia ranks fifth in the world after the United States, Germany, Italy and France in terms of gold reserves. The abandonment of the dollar and reform can lead to a sharp demand for the precious metal.

The NWF, following the de-dollarization strategy, will abandon the American currency within a month and convert it into euros, yuan and gold. The share of the latter will be 20 percent of the total fund.

Experts clarify that it is impossible to replenish the stocks of the NWF with gold in a month – the volume is too large (tens of millions of troy ounces or thousands of tons). But this will not be necessary, inasmuch as the country has been increasing its reserves for the past 12 years. “If in 2008 there were only 400 tons of gold in the bins of the Central Bank, then by May 2021 the reserve approached 2.3 thousand tons. According to this indicator, the Russian Federation took the fifth place in the world after the USA, Germany, Italy and France. However, the share of gold in Russian reserves is much lower than these four countries have,” the newspaper specifies.