Gold after Russian reserves frozen (28 Feb 2022)
After Russian reserves frozen on 28 Feb 2022, gold was 1.8% higher three months on and 2.1% higher twelve months on, measured from the Jan 2022 monthly average of $1,816 a troy ounce.
- Gold before
- $1,816
- Jan 2022
- Gold +3 months
- +1.8%
- Gold +12 months
- +2.1%
- Silver +12 months
- -5.6%
In context
Western sanctions immobilised about $300 billion of Russia’s central-bank reserves; official gold buying hit records in 2022–23.
Over the same months silver was 5.6% lower three months on and 5.6% lower twelve months on.
Of the 29 market or central-bank moments on the chart with a full year after them, this ranks 21st for gold twelve months on.
The geopolitical or monetary shock before it on the chart: Ukraine (24 Feb 2022).
The one after: PBoC resumes gold buying (7 Nov 2022).
Monthly average prices in U.S. dollars per troy ounce (Kitco.com and the World Bank Pink Sheet), from the last full month before a period to its last full month; the record runs Feb 1971 to Oct 2026. What the record did, not a forecast. Source: gold.org.
Updated Oct 2026 · record through Oct 2026