Bank of Russia to buy gold in domestic market
In order to balance supply and demand in the domestic market of precious metals, the Bank of Russia will buy gold from credit institutions at a fixed price starting from 28 March 2022. The price will be 5,000 Russian rubles per 1 gram from 28 March 2022 through 30 June 2022. The established price level makes it possible to maintain a stable supply of gold and smooth functioning of the gold mining industry in the current year. After the period specified, the purchase price of gold can be adjusted taking into account the emerging balance of supply and demand in the domestic market.
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