Russians could resell 5 tons of investment gold on the gray market

Russians could resell 5 tons of investment gold on the gray market

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After the March cancellation of the 20% VAT on the purchase of gold bars for individuals, Russians could resell about 5 tons of investment gold to the gray jewelry market. This assessment was reported to Vedomosti by Vadim Serov, CEO of the Association of Jewelers (it includes large retail chains and jewelry manufacturers – 585, Sokolov, Sunlight, Adamas and Art-Karat).

Measured (investment) gold bars are gold of the 999th test, i.e. without impurities, which cannot be used in jewelry. It is sold in ingots from 1 g to 1 kg. The Central Bank sets the gold rate – on November 29, 1 g of the precious metal cost 3421.75 rubles. Since the beginning of the year, its value has fallen by almost a quarter. In March, during the rush demand, the cost of 1 g of gold reached 7731 rubles. Gold bars are sold by banks or specialized sellers, their list is published on the website of the Federal Assay Office. Gold is more expensive in banks.

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