The Central Bank of Russia stopped buying gold from banks

In the written statement made by the Central Bank of Russia, it was pointed out that the demand for physical bullion purchases in the country has increased.

In the statement, it was noted that the said increase was experienced especially due to the cancellation of VAT in purchases, and said, "The Central Bank of Russia has stopped buying gold from credit institutions as of March 15 in order to meet the demands of the citizens." statement was included.

The Central Bank of Russia has increased its purchase of physical gold, including banks in Russia, since 2014.

The bank stopped purchases in March 2020 due to the Kovid-19 outbreak, and resumed purchases on February 28 with the start of the Russia-Ukraine war.