Russians purchased report variety of gold bars in 2022, information reveals


  • This content material was produced in Russia, the place the regulation restricts protection of Russian navy operations in Ukraine.

MOSCOW, Feb 3 (Reuters) – Russians purchased an all-time report variety of gold bars in 2022, finance ministry information confirmed on Friday, as tax cuts on valuable metals inspired folks to top off on bullion as a protected asset.

Moscow scrapped its 20% VAT on bodily gold trades for people final March in a bid to attract folks away from utilizing the U.S. greenback as a protected haven.

It additionally exempted folks from paying earnings tax on income gained from promoting gold bars, additional boosting demand for the metallic.

Based on the info, Russians purchased over 50 tonnes of gold bars in 2022, ten occasions greater than the 12 months earlier than. Essentially the most wanted have been 1 kilogram bars which accounted for about 60% of these offered.

The figures usually are not but remaining and solely cowl the interval ending November 2022, the finance ministry informed Reuters.

State-controlled VTB Financial institution (VTBR.MM) stated it offered 33.8 tonnes of gold bars to clients in 2022, with shoppers holding 50 billion roubles ($711 million) price of the metallic.

Newest Updates

View 2 extra tales

“Gold was an excellent protecting monetary resolution final 12 months,” stated Yevgeny Beresnev from VTB’s funding merchandise division.

“Clients shifted funds into this instrument with a purpose to diversify their belongings and make a revenue when long-term planning.”

($1 = 70.30 roubles)

Reporting by Darya Korsunskaya and Elena Fabrichnaya; Writing by Caleb Davis; Modifying by Christina Fincher

Our Requirements: The Thomson Reuters Belief Rules.



Source link

Related articles

Redefining international commerce infrastructure: TradeOS joins Cointelegraph Accelerator

TradeOS, the belief and settlement layer for international commerce, is now a part of the Cointelegraph Accelerator. Positioned as the muse of next-gen stablecoin-based uniserval checkout, TradeOS is constructing an open, permissionless international...

25 Highlights AI Limits in Buying and selling

On the Finance Magnates Africa Summit 2025, monetary analyst Mj Givens Kgasi opened with a direct give attention to the core themes of his presentation.In a session titled “The Way forward for CFD Buying and...

Expro lands contract with Woodside for Mexico’s first ultra-deepwater growth

Expro has been awarded a significant three-year contract by Woodside Power in assist of the Trion deepwater oil and fuel growth offshore Mexico.  ...

Whitestone REIT: The Small-Cap Retail Landlord Outperforming The Giants (NYSE:WSR)

This text was written byComply withWith a grasp’s in economics and 15 years of expertise spanning each private and non-private sectors, I convey a worldwide perspective to my investing insights. Having lived and...

TC All Stage launches tomorrow in Boston, and ticket costs rise

TechCrunch All Stage formally kicks off tomorrow at 7:30 a.m. ET at SoWa Energy Station in Boston — and that’s when ticket costs leap to full charge. This isn’t simply one other founder occasion....
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com