Precious Metals Rally Faces New Risk as Russia Signals Policy Shift on Stablecoins

Gold and silver have shown extraordinary strength in recent months, with prices reported near $5,000 for gold and $77 for silver after earlier record highs around $5,600 and $121, according to a market update tracking demand across global markets ^[1].

The same market update cautioned that a developing shift in global finance introduces a distinct risk to precious‑metals momentum ^[1]. At the same time, the Central Bank of Russia has signaled a policy reassessment: it plans a 2026 feasibility study on a national stablecoin and has moved away from its prior strict stance against private stablecoins ^[4]. Independent reporting also says Russia is reconsidering a stablecoin ban and exploring a domestic stablecoin amid broader interest in digital currencies ^[2][3].

Traders and analysts will likely monitor both precious‑metals price action and developments in Russia’s digital‑currency policy, as observers see the unfolding regulatory and systemic changes as potential drivers of future market direction ^[1][4][2].