Putin’s big bet on gold pays off as price tops $4,000

Russia’s gold reserves are part of Putin’s plan to construct a ‘fortress’ economy impervious to economic sanctions - Alexander Kazakov/Reuters Vladimir Putin’s Russia has faced a barrage of sanctions from around the world as it has waged its war in Ukraine. But its economy has been able to fall back on one key pillar of support: gold. Russia’s central bank switched from being a net seller of gold to a net buyer in 2006 and has amassed one of the largest stockpiles in the world. The gold reserves are part ...