PRECIOUS METALS | Russia's Gold and Silver Reserves Grow Annually, Minister Says

Russia's Minister of Natural Resources, Alexander Kozlov, stated in an interview ahead of the St. Petersburg International Economic Forum that the country's gold and silver reserves are increasing at a rate exceeding their extraction levels. According to Jin10, Kozlov emphasized that Russia can fully ensure the reproduction of its gold and silver reserves annually beyond the extraction rate. He added that expert assessments preliminarily estimate gold production in 2025 to be between 480 and 485 tons, while silver production is expected to range from 2,600 to 2,800 tons. For 2026, gold production is projected to be between 480 and 500 tons, with silver production anticipated to be between 2,800 and 3,000 tons. The St. Petersburg International Economic Forum is scheduled to take place from June 3 to 6.