Gold rush in Russia: why buy gold
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On Wednesday, February 22, at 14:30, the MK press center will host a live broadcast dedicated to the country’s gold reserves.
Last year, against the background of sanctions and currency restrictions, the government decided to shift the attention of Russians from dollars and euros to gold, as well as to promote domestic investment demand for the metal.
So, from March 1, 2022, individuals can buy gold bars in banks without VAT in the amount of 20%. This relaxation led to a surge in consumer interest in bars and coins. The volume of purchased gold amounted to more than 50 tons, which is ten times higher than in the previous two years. Despite the fact that gold is considered a rather volatile, risky asset, the Russians decided to secure their savings by buying up the precious metal. Can such a strategy be considered correct? How will demand and prices for gold change? What profitability can bring ingots and coins to their owners?
Experts will tell the MK about this: Alexei Vyazovsky, Vice President of the Golden Coin House, Vadim Ignatov, personal broker of BCS World of Investments, and Artem Tuzov, Director of the Corporate Finance Department at IVA Partners Investment Company.
Watch live
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