Citizens gilded their savings // Is it profitable to invest in precious metals

Citizens gilded their savings // Is it profitable to invest in precious metals

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Russian demand for gold in 2023 was almost the highest in nine years. Analysts at the World Gold Council calculated that on average every Russian bought at least half a gram of the precious metal. This is a record since 2014. The Ministry of Finance noted that last year the Russians purchased 95 tons of gold bars, which is almost 20 times more than before the start of hostilities in Ukraine. However, compared to 2022, the figure still decreased slightly. Then demand broke the 100-ton mark. Deputy Minister of Finance Alexey Moiseev said that the peak of purchases occurred in the fourth quarter. In his opinion, the precious metal has become a replacement for the dollar in the savings of Russians. What awaits gold in 2024? Details from Daniil Babkin.

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