Russian Precious Metal Exports To China Rise 80% In H1 2025.
Russia’s precious metals exports to China nearly doubled in the first half of 2025, with gold leading the way as prices continue to soar.
Shipments of Russian gold, silver, and other ores sent to China shot up by 80% compared to the same period last year. The jump lines up with a sharp rally in bullion prices, which have gained around 28% so far this year. The price movement are being pushed by central banks stacking reserves, trade friction between the U.S. and its partners, and investors pouring into exchange-traded funds trying to shield themselves from market uncertainties.
The Bank of Russia was once the biggest central bank buyer of gold but has been sanctioned out of the world’s top trading venues: London and New York. Instead, Russian miners are now targeting Asian demand. A new gold trading bourse will shortly open in St. Petersburg, bringing competition to what was once Western dominated trading.
Russia’s Norilsk Nickel, is the country’s major producer of palladium and platinum and has turned its focus entirely towards Asia. Prices for palladium are up 38%, and platinum has jumped 59% so far this year. Other metals are following suit. Spot silver gained 0.4% to hit US$38.33 per ounce, platinum added 1.1% to reach US$1,437.53, and palladium climbed 1.3% to US$1,256.98.
Gold prices typically react to global politics especially when the global situation becomes tense. On Monday (July 21), spot gold rose to US$3,369.02 per ounce, while U.S. gold futures hit US$3,376.40. The jump was helped by a weakening U.S. dollar, which slipped 0.2% against other major currencies. That drop made it easier for non-dollar holders to jump into the market and buy gold.
Source: Russiaspivottoasia