As RBC notes, the reduction has been going on since January, then the gold reserve decreased by 300 thousand troy ounces, and in February – by another 200 thousand. However, the publication specifies that usually the reduction of the Central Bank’s reserve is associated with the minting of precious coins. The conflict in the Middle East is not mentioned as a reason.
But the publication emphasizes that gold is actively depreciating against the background of the worsening conflict in the Middle East. At trading on Monday, March 23, the cost of April gold futures on the Chicago Mercantile Exchange (CME) fell by 10.38% to $4100 per ounce.
