Russia reportedly moved nearly 100 tonnes of gold through Hong Kong in the first seven months of 2026, according to claims from social media. This significant volume of gold appears to allow Russia to circumvent Western sanctions and maintain its international bullion transactions. The strategy leverages Hong Kong as a major hub for gold trades. Gold prices hovered around $4,400 per ounce, down from the January 2026 all-time high but still elevated compared to the previous year. Market participants may interpret this movement as potential support for higher gold prices.
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