You are here
Gold rally boosts Russian reserves by $216 billion, replacing seized assets
From Bloomberg News
Tuesday, January 20, 2026
Russia has reaped a windfall from a surge in gold prices since the start of its war in Ukraine, generating gains on a scale comparable to the sovereign reserves frozen in Europe over President Vladimir Putin's invasion.
The value of the Bank of Russia's gold holdings has increased by more than $216 billion since February 2022, according to Bloomberg calculations. At the same time, the central bank has largely refrained from both major purchases of the metal and using its gold reserves during that period, despite the loss of access to foreign securities and currencies blocked under sanctions.
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Metallic Reports Lion Zone Recoveries of 98.9% Copper,
93.9% Palladium, 96.8% Platinum, 85% Gold, and 88.9% Silver
Company Announcement
via Pro.CEO.CA
Monday, January 19, 2026
TORONTO -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) provides preliminary metallurgical results performed by SGS Canada Ltd1 at its laboratories based in Quebec City, Quebec, and Lakefield, Ontario, from representative samples of Lion Zone mineralization.
An initial Lock Cycle Test returned a sulphide concentrate grading 25.8% copper containing very high metal recoveries of copper (98.9%), palladium (93.9%), platinum (96.8%), gold (85.0%), and silver (88.9%), exceeding Power Metallic's most optimistic estimates for recovery prior to this test work.
As previously reported, the copper mineralization at Lion is contained within coarse grained chalcopyrite and cubanite and copper was expected to respond well to conventional sulphide concentration methods. These initial metallurgical tests were designed to determine the recovery potential of the platinum group metals, gold, silver, and nickel. ...
... For the remainder of the announcement:
https://pro.ceo.ca/@newswire/power-metallic-reports-lion-zone-recoveries-of-989
In December, European Union countries approved extending a freeze on around $244 billion of Russian sovereign assets held in the bloc.
The increase in the value of bullion restores most of Russia's lost financial capacity, even if it doesn't return the blocked reserves. While securities and cash immobilized in Europe cannot be sold or pledged, gold can still be monetized if needed. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
