Impersonal metal accounts

2023: Muscovites bought 31 tons of impersonal precious metals

Sberbank customers in Moscow bought almost 31 tons of impersonal precious metals in a year. This was announced on June 6, 2023 by the Moscow Bank of Sberbank. Read more here.

2022: Russian banks declare record demand for impersonal metal accounts

During 2022, Russian banks recorded a record surge in demand for impersonal metal accounts (compulsory medical insurance). This became known at the end of May 2023.

According to Kommersant, 380 thousand impersonal metal accounts were opened by Sberbank clients in 2022. This is 107 thousand more than in 2021. In total, in 2022, Sberbank customers purchased 115 tons of depersonalized precious metals, including 9 tons of gold. The total amount of purchases exceeded 46.6 billion rubles, and gold was bought by 34.7 billion rubles - twice as much as a year earlier.

Russian banks recorded a record surge in demand for impersonal metal accounts

The demand for precious metals in impersonal form continues to grow, which is natural, because this is the most convenient and affordable way to invest in precious metals and diversify your savings. And the second important aspect is that precious metals, and especially gold, are a reliable protective asset for the long-term storage of funds, since on the horizon of decades its value is growing steadily, "said Sergey Shirokov, director of the Borrow and Save Department of Sberbank.

In PSB in January-May 2023, the number of open accounts increased by 20%. Despite possible volatility in the short term, on a longer horizon, precious metals tend to rise in price, the bank said.

The bank Opening"" notes that the peak of demand for gold in 2022 fell on the second half of March, after Russia the tax on the purchase of bullion was canceled.

Gazprombank told the publication that they began to actively promote this form of investment in precious metals only in May 2023 and believe that the demand for metal accounts will continue to grow.

In any transition period, customers are more likely to seek to maintain their savings than invest in risky financial instruments, so we believe that this period in itself is a good reason for customers to invest in precious metals, the bank explains[1]

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