In 2024, the Russians bought a record of gold, equal to a quarter of the volume of their annual production in the country, reports Bloomberg with reference to the study of the world Gold Council, WGC).
Author:
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According to WGC, in 2024 the Russians acquired gold on bullion, coins and jewels for an amount of 75.6 tons. The organization emphasized that Russia occupied fifth place among all countries at the demand level of this beautiful metal. In addition, the demand for consumer gold last year is more than 60% higher than in 2021.
The growth of gold demand in Bloomberg was explained by the desire of the Russians to provide their savings in an alternative way instead of the usual investments in dollars and euros. The agency recalls that after the West introduced anti -rustic sanctions in Russia, a foreign currency deficiency arose and the rubleing rate was very weakened.
Sales also contributed to the abolition of VAT authorities to retail purchases of precious metals in March 2022, says Bloomberg.
Previously, on February 1, the Ministry of Internal Affairs warned about a new fraud scheme using gold bullion and coins. According to law agents, there are beliefs about the need to invest in gold so as not to lose funds due to inflation and lack of reliability of the bank account.
Author:
Anastasia Kossakovskaya
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
