The Central Bank will reduce the issuance of investment currencies by 20%

According to Vladimir Chernov, an analyst at Freedom Finance Global, when reducing production, the Central Bank mainly evaluated unsold balances (inventories) or supply on the Russian domestic market, as well as consumer demand.

Against the backdrop of the recovery of the Russian stock market, the rush to invest in physical gold will decrease, he suggested.

By reducing the plan for its issuance, the regulator hopes that demand will stabilize against the background of the strengthening of the ruble and the expansion of the line of yuan deposits, said Lyudmila Rokotyanskaya, an expert on the stock market at BCS World of Investments.

The Central Bank also plans to force banks to strengthen control over Russians’ transactions with precious metals. Questions may arise from purchasing gold and silver bars without selling them later and from reluctance to store valuables in banks.

The Central Bank identified three points in which the purchase of precious metals in bullion by an individual can be considered suspicious:

1. the client buys bullion, but does not sell it, or sells it in a significantly smaller volume than what he bought;
2. precious metals are purchased with funds recently received in a bank account;
3. The client does not want to keep valuables in the bank or leave them there “for a short period of time.”