According to preliminary data, the volume of purchases of gold bullion by individuals in the Russian Federation amounted to about 95 tons in 2023, according to the Deputy Head of the Ministry of Finance Alexei Moiseev cited by RIA Novosti.
“We don’t yet have a final figure for 2023. Individual gold purchases decreased steadily throughout the year before rising sharply in the fourth quarter. Hence, the figure for the year came out to be around 95 tons. To a large extent, it happened in the fourth quarter,” Moiseev noted.
The most popular amount of purchase, according to him, were 100g gold bars, the next most popular was 1kg bars. Demand for gold continued in January 2024, and in some categories there was even a supply shortage, especially for larger gold bars.
Speaking about plans to introduce restrictions on the export of gold from the Russian Federation for individuals, Moiseev noted that “no decision has been made yet [on this issue], a resolution is in the works.”
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
