Russia's Gold Exports to China Reach Record USD1M in November
The November figure eclipsed October's $930 million total, according to the outlet, underscoring a dramatic pivot in trade patterns. Notably, Russia shipped zero gold to China during October and November of the previous year, with its former annual record standing at merely $223 million.
Across the initial 11 months of 2025, Chinese imports of Russian gold climbed to $1.9 billion—representing nearly ninefold growth compared to the equivalent timeframe last year, customs data revealed. Total Russian precious-metal exports to China doubled year-over-year during this span.
Industry analysts warn official statistics may dramatically understate the actual transaction volumes. media calculated Russia's precious-metal exports to China at approximately $1 billion for 2025's first half alone, though the breakdown between gold and other metals remained unspecified.
The Financial Times disclosed in November that China's undisclosed gold acquisitions could exceed official reports by more than tenfold as Beijing quietly shifts away from U.S. dollar dependence. While World Gold Council data indicates China purchased 23.95 tons of gold between January and September this year, analysts contend genuine volumes far surpass these figures as the nation diminishes its dollar-denominated reserve holdings.
The escalation follows intensified Sino-Russian coordination since February 2022's Ukraine conflict expansion. Both powers characterize their relationship as a strategic partnership "without limits," with bilateral trade surpassing $200 billion for three straight years. Western currency usage has been virtually eliminated from Moscow-Beijing commerce, with transactions now conducted almost exclusively in rubles and yuan.
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