Russian banks run low on gold amid surging demand – Vedomosti ...News

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Russian banks run low on gold amid surging demand – Vedomosti
source : Russia Today ( News ) () 59
The abolition of purchase tax has sparked wide interest in the precious metal, experts say Banks in Russia are facing a shortage of gold bars after demand for the precious metal increased sharply, Vedomosti newspaper reported on Tuesday, citing experts. Executive Director of Precious Metals Operations at Uralsib Bank Andrey Vasiliev told the media outlet that supply disruptions arose due to the limited production capacity of refineries and growing demand for gold bars from citizens. Small ingots are more in demand among individuals, while refineries were focused on bulk purchases of large bars and couldn’t quickl

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