Financial Times wrote: Russia has become a “country of those who run after gold” with the war in Ukraine – MIR
The Financial Times wrote: Russia has become a “country of those who run after gold” with the war in Ukraine.After the start of the war in Ukraine, Russian leader Putin supported gold against the dollar, the Russians rushed for gold. According to the World Gold Council, the demand for gold in the country has increased by 400 percent.The date is February 24, 2022… Russian leader Vladimir Putin started the war in Ukraine… As soon as the news spread about the advance of tanks on Kiev, the phones of all financial advisers in Russia rang, investors were asking the same question: “Should we buy gold? If the worst of the worst happens to us, we will at least bury it somewhere … ”According to the British newspaper Financial Times, this mentality made Russia a “country of gold lovers and gold lovers” after the invasion. According to a report released by the World Gold Council last month, gold demand in Russia increased by 400 percent in 2022. Demand for gold bars or grams of gold was exactly 5 times higher than a year ago. Now this period has passed,” he commented. See what gold miner Vitaly Nesis tells the newspaper: “People are looking for ways to make small investments. The euro and dollar are now in short supply, and the popularity of gold has skyrocketed. As long as geopolitical instability persists, the demand for gold will be significant.” Of course, behind the sixth place of the Russians, the influence of Moscow is great. A month after the start of the war, in March 2022, the Central Bank of Russia banned the sale of foreign currency. On the same day, Putin abolished VAT on the purchase of gold bars. Finance Minister Anton Silnanov also urged the public to invest in precious metals, saying “the dollar is unstable and there are risks.” It wasn’t enough, he pointed directly to gold: “Investing in gold would be a great alternative to the dollar.” Receiving news one after another, the Russians lined up for gold. According to Sberbank, especially small gold coins were “sold out” in the country. Of course, gold prices did not stand still. Between November and January last year, the price of gold rose by 20 percent in the country. Exports of Russian gold also rose sharply. Gold exports from Russia to China increased by 63 percent in 2022, reaching $150 million, according to the World Gold Council.
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