The Central Bank and banks reported an increased demand for investment gold coins
The Central Bank and a number of banks spoke about the rush demand for investment gold coins. This, in particular, is about FC Otkritie, MKB, Promsvyazbank and banks Zenit, Uralsib and Lanta-Bank.
Due to the limited circulation and uneven delivery schedule from the Central Bank, the protective asset has become a deficit in some bank branches, the Vedomosti newspaper found out .
The peak of demand was observed in February-March, but even now they remain a popular product. At the same time, the demand for gold bars is higher than for investment coins. A gram of gold in a coin is more expensive than in an ingot. The last time there was a deficit of investment coins was during the pandemic. Dmitry Stepanov, head of one of the areas of the Association of Bondholders, comments:
Dmitry Stepanov head of one of the directions of the Bondholders Association:
“Investment coin is a classic physical investment option for investors. The fact is that earlier it was actually possible to invest in gold without VAT, just by buying bullion coins.Investors are accustomed to this instrument, they consider it as a kind of alternative to a currency, a kind of portfolio diversification involving the purchase of a currency, so a more active demand for gold now is a response to inflationary processes that are taking place in the world. We know that gold is such a factor that hedges inflation well. And often during a period of inflation, demand grows, now this is exactly the situation in world markets, when there are large inflationary processes, and they are poorly controlled, on the one hand. On the other hand, and this factor is more important and is reinforced by the factor of inflationary expectations, the percentage of confidence in the currency among domestic investors has decreased, the currency is no longer considered a good way to save money. Therefore, part of the funds is diluted with a paper purchase of investation coins. They are quite liquid, many banks buy them at a good rate, there is a demand for them, so I think that such a protective tool for many investors can be useful.”
