Home / Gold Price / Russia
🇷🇺 Gold Price Today in Russia | ₽383,642
Live gold price in Russian Ruble (RUB) — updated every 5 minutes
Last updated: Jun 18, 2026, 09:30 AM ET
Per Gram (RUB)
₽12,334.37
Per Troy Oz (RUB)
₽383,642
Per Kg (RUB)
₽12,334,371
USD/Gold Spot
$4,262.69/oz
USD/RUB Rate
1 USD = 90 RUB
RUB per gram
₽12,334.37
Gold Market in Russia
Russia is the world's second-largest gold producer, mining approximately 300–320 tonnes annually. The Central Bank of Russia dramatically increased gold reserves from 2014–2022 as part of a de-dollarization strategy, accumulating over 2,300 tonnes — the fifth-largest holding in the world. Western sanctions following the 2022 invasion of Ukraine blocked Russian gold from LBMA markets.
Why do people in Russia buy gold?
Russian citizens have historically used gold to protect against ruble devaluation and economic crises. After the 2022 sanctions eliminated the VAT exemption on gold purchases (then reinstated), physical gold demand among Russian retail investors surged. The Sberbank and VTB gold coins and bars are the most widely held domestic products.
Frequently Asked Questions — Gold in Russia
What is the gold price in Russia today in rubles?
Russian gold prices in RUB are set by the Central Bank of Russia and major dealers. Due to Western sanctions, the ruble-dollar exchange rate is constrained and Russian gold pricing may diverge from international benchmarks.
Can Russians buy gold tax-free?
Russia eliminated VAT on physical gold purchases for individuals in March 2022 (down from 20%), significantly boosting demand. Capital gains on gold are still subject to personal income tax in Russia.
Why did Russia accumulate so much gold?
Russia systematically bought gold from 2014–2020 to reduce dependence on USD reserves. After SWIFT exclusion risks materialized in 2022, gold proved valuable as a sanction-resistant reserve asset. Russia's gold cannot be frozen like foreign currency reserves.
Is Russian gold affected by sanctions?
Yes. The G7 and EU banned imports of Russian gold following the 2022 invasion of Ukraine, cutting Russia off from the LBMA. Russian gold is now primarily sold to non-Western markets including India, China, and the UAE.