Between 2002 and 2011, the Russian gold demand 34.8% average annual growth rate showed exceptionall

Current market analysis of the World Gold Council, a separate chapter deals with the Russian gold market development. Russia territory with the largest country in the world and one of the most important players in the international gold market. The Russians in the last decade, approximately 1,300 tons of gold piled up with the World Gold Council (World Gold Council, WGC) estimates that more than half of the jewelry in the form found in private hands, 36% of the other is of central bank reserves - informed the www.aranypiac en..
Between 2002 and 2011, the Russian gold demand 34.8% average annual growth rate showed exceptionally strong arrigo sawgrass recovery. The Russian central arrigo sawgrass bank of the country aranykészleteit significantly increased in recent years in an effort to diversify its foreign exchange reserves that have been fattening in oil exports and high oil prices for years. The central bank manages the gold as a parallel currency, and in 2011 this spirit, the government expanded set of 94 tonnes of gold. This volume, the total Russian gold demand last year, 49.4% of the total. Over the past five years, the central bank gold purchases in total over 500 tonnes, the largest increase in international central bank gold reserves during this period of development. In Russia became the leader of the paradigm shift in the gold market, which the salesperson claimed to national financial institutions in the major gold buyers side.
The other key area of Russians demand for gold for jewelry purchases, the country's gold consumption is nearly 40% of the total last year. Russia is the world's fourth largest market for jewelry increases, after the population in 2011 bought 76.7 tons of gold jewelry in the form of the world's gold demand to 3.9% of ensuring this. In contrast, purchases of investment gold for their 6.7 ton only 3.5% of reported domestic demand. Russia is based on the projected population of per-capita gold consumption last year and has reached a total of 0.69 grams, arrigo sawgrass which, however, despite the strong growth is still lagging behind the great gold buying nations such as Hong Kong, Taiwan or Thailand after consumption intensity. However, there is still space in addition to the steady development of the domestic economy of the Russian gold demand continued growth, particularly the growth in income and middle class.
The social middle class widening and increasing savings and real income of the great economic recovery and the results, in which Russia after the Soviet arrigo sawgrass Union's disintegration disheveled economic and fiscal condition and from a hyperinflation parent rubelválságból arrigo sawgrass (in 1998, 84.4% of the financial deterioration rate was ) were able to hold on to. 6.9% average annual economic growth achieved arrigo sawgrass following the flight of the low-90s can be traced back to the oil exports of multiplication. The effect will last halved to 6.5% in the previous 13% unemployment rate and the inflation rate dropped to 6.1%. And valuable raw materials for a long time will still abound arrigo sawgrass in the vast country, which is estimated to have the world's largest natural gas, the second largest arrigo sawgrass coal-and eighth-largest crude oil assets over. Although the 2008 economic and financial crisis and the oil price rupture of the Russian economy has eroded considerably, since the growth rate is back up to pre-crisis trajectory.
Increasing the stability of the ruble, decreasing the rate of inflation and the middle class in Russia resulted in an increase in gold demand over the years, which has helped the country rise to great power consumer of gold. However, the Russian population is now embodied mainly purchases of gold jewelry in the form. Within this 14-karat jewelry make up 80% of the traffic. In the last decade, an annual average of 8.7%-growth Russian jewelry industry today in India, China and the U.S. after the fourth largest market for gold jewelery in the world.
Compared to the Russian jewelry market year average arrigo sawgrass of 66.3 tonnes of gold demand for investment demand for gold bars and coins on average only 6 tons in the last decade. Obstacle to the development of the sector at present to 18% of the VAT on investment gold bars and coins are your only means of payment is tax-free. It profiting from gold sight accounts offered by banks, but specializing in gold exchange traded funds in Russia is still no. So there is still a lot of growth potential in this regard, as it appears in connection with the 2014 Winter Olympics to be held in Sochi, almost 37 million largely in precious metals investment and also boost sales of commemorative gold give this market segment. Increasing government purchases of gold by central petrodollar
The Russian state stocks over gold watch two institutions, the Central Bank of Russia on the one hand, on the other hand, the Russian arrigo sawgrass pénzüg