font size "what does the rising gold price mean for the russian economy and ordinary consumers?" "it means that the russian central bank has been running a justifiable policy, because the bank has been purchasing gold during the recent three years. now gold will cost even more. citizens still have an opportunity to buy gold investment coins that are vat-free in russia, unlike bullions. "in russia, there are three ways of investing in gold. they include unallocated bullion accounts in banks - bullions and coins. this method is bad because unallocated bullion accounts are excluded from the deposit insurance program. therefore, if a bank collapses, the state will not give you anything back. <u+042d>a bullion is a good investment, but in russia, this investment shall include 18% of value added tax. therefore, your price per one gram or one ounce of gold will be 18 percent higher. gold investment coins are exempt from vat, so this is the most profitable way among those that exist. <u+042d>in russia, the most common gold coin is known as "pobedonosets" or "victorious." this is a quarter of an ounce coin. the global standard is one ounce or 31 grams. in russia, however, we produce quarter of an ounce coins - approximately 7.7 grams of pure gold. today, this coin costs about 20,000 rubles. i bought it in the early 2000s when it was 4,000 rubles. the price grows in both rubles and dollars. <u+042d>the most popular foreign coin is known as the "australian kangaroo," because it depicts a kangaroo. this coin costs about 91,000 rubles today. this is an ounce coin, 9999 purity. since the beginning of the year the price on the coin has increased by 20 percent," said alexey vyazovsky. pravda.ru
gold prices on the way to all-time highs
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