I am glad to welcome my readers again! Precious metals are an asset that always remains valuable and even rises in price during crises and cataclysms, which cannot be said about money. But it comes with many inconveniences. You need to store the bullion somewhere (some are still buried in dachas), but it won’t be possible to sell it today even in case of urgent need. Fortunately, information and banking technologies provide us with an alternative.
The compulsory medical insurance rate at Sberbank today is an unstable thing. Today gold falls in price, tomorrow it rises in price - it seems that it is too late to buy it, because yesterday it was cheaper. But what if in a week it will cost 30% more?
Online course schedule
Theoretically, you can buy metal blindly and wake up a billionaire the next morning. In practice, very few people in history have succeeded in doing this. If we want to save money and increase it, it is worth familiarizing ourselves with exchange rate fluctuations and their dependence on the state of the world economy.
Gold
Despite periodic ups and downs, the gold rate is growing steadily. Since 2000, its cost per troy ounce has increased from 300 US dollars to more than 1,000, rising to almost 2,000 in 2012.
Silver
Some experts consider silver to be an undervalued metal. There is actually much less silver on the market than has been mined in the history of mining. This is due to the fact that most of it is used for industrial needs. Nevertheless, silver today is included in the list of precious metals and is also considered a profitable investment.
Palladium
Palladium is a metal needed by the mechanical engineering industry. Its center in Russia is Chelyabinsk and the Chelyabinsk region. Demand for it is stable, because even in times of historical turning points, people need cars, machine tools, electronics and medical equipment. All this means that there is no need to fear a depreciation.
Platinum
Platinum is the rarest of the four investment metals and the three that perform a monetary function (palladium coins appeared only in 1966 and were not in active circulation). In 2015, at the peak of its value, it was more expensive than gold. However, those who did not cash out their platinum accounts in hopes of future growth were mistaken: the growth was followed by a sharp decline. Nevertheless, today platinum is more expensive than before 2015.
How much does 1 kilogram of gold cost?
So, an impersonal kilogram of gold in a metal bank account will be valued at approximately 2,750,260 rubles. The cost of the measured ingot must be clarified with the bank for each specific date.
The exchange quote in 2021 was at $1,200 per 1 troy ounce. But this indicator is unstable and changes daily depending on many reasons - world politics and economics, changes in exchange rates, financial risks, etc. Daily exchange rate fluctuations can be up to 10%. To make the most of your gold investment, it is always a good idea to stay updated with the market situation.
You may also be interested in::
- News and analytics of the gold and coins market
- Golden educational program for investors
- Catalog of gold coins for investment
- Critical mistakes when investing in gold
- How to make your investment in gold profitable?
Dynamics in recent years
By 2021, experts predicted an increase in the price of metal assets, linking the rise in exchange rate with the escalation of the trade confrontation between China and the United States. By mid-2021, this war reached its climax - both states imposed duties on the import of goods, the amount of which amounted to billions. The conflict has not yet been resolved; negotiations on the situation are ongoing.
Contrary to forecasts, all metals fell in price, and the owners of compulsory health insurance felt this for themselves. Perhaps the reason is that the dollar has strengthened in the global foreign exchange market.
If we take statistics over the last 10 years (from 2009 to today), we will see that all metals have risen significantly in price, despite repeated drops and increases in exchange rates, sometimes sudden and large. See how this happened in the graph:
Gold, Silver and Platinum Quotes from TradingView
So, the price of 1 kilogram of gold is approximately 1,850,000 Russian rubles
In dollar equivalent, this will be $36,865. On the world gold market, quotes are formed largely based on the results of daily speculative transactions. At the same time, experts try to link the cost of gold with the amount of precious metal actually mined and produced. But there is no direct relationship observed here. There is only an increasing fall and winter demand associated with the traditional Asian wedding season.
Clearer patterns are observed in the foreign exchange market. The chaotic nature of this segment of the financial system forces many investors to turn to gold, which is more stable in the long term. And many experts explain today’s rise in prices for the yellow metal by the fall in the exchange rate of the US dollar. People stop trusting unstable currencies and turn their attention to gold.
What is an impersonal metal account and what metals can be purchased
An impersonal metal account (abbreviated as OMS) is a financial instrument that allows citizens today to open a fixed-term (deposit) or perpetual (demand) deposit. It differs from a ruble or foreign currency deposit in that it is settled in grams of precious metal, and not in monetary units.
The investor thus becomes the owner of silver or palladium, but only virtual. When carrying out operations under compulsory medical insurance, the individual physical qualities of the metal are not taken into account: the number of ingots, sample, manufacturer, serial numbers. However, it will not be possible to withdraw funds from compulsory medical insurance in the form of real metal.
When opening compulsory medical insurance, the investor is traditionally offered 4 metals to choose from:
- Gold.
- Silver.
- Platinum.
- Palladium.
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How the price is formed
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The cost at which metal is purchased today for compulsory medical insurance is not taken out of thin air and depends not only on the Sberbank exchange rate. The initial (first) price is set by the London Precious Metals Exchange (LME) based on the results of trading by the main participants in the world market (today there are 13 companies). Every day at 14:00 Moscow time on weekdays, the Central Bank of Russia publishes precious metals rates on the official website cbr.ru. Quotes of the Central Bank of the Russian Federation are formed on the basis of quotes from the London Stock Exchange.
The metal exchange rate according to the Central Bank of the Russian Federation also depends on the second factor - the ruble exchange rate to the US dollar today. The fact is that the exchange sets the price in US dollars per ounce, and the Central Bank - in rubles per gram. An ounce is always equal in mass to ~31.1 g, which cannot be said about the ruble, because its exchange rate is constantly changing and has been especially unstable in recent years. Therefore, even with the same price of gold on the LME, the rate of the Central Bank of the Russian Federation today may differ quite significantly from yesterday.
The quote on cbr.ru is the second price. There is also a third one - the one that the end consumer, a private investor (for example, me or you) focuses on. The bank, as a commercial organization, works to make a profit, so it slightly changes the price assigned by the Central Bank. Gold and silver are bought from the population at a price below the exchange rate, and sold at an inflated price. The difference - the spread - is the bank's profit.
The law does not regulate the procedure for determining the spread for compulsory medical insurance, so in theory, Sberbank can set any prices. Fortunately for you and me, there is interbank competition, and an organization that sets a draconian sale price will simply be left without investors.
Sberbank adheres to the “golden mean” principle in relation to the spread - this is one of the reasons why depositors choose it to open compulsory medical insurance. The second reason is the reputation of Sberbank. In the minds of the majority of the population, he is reliable enough to trust him with funds.
Impact of the dollar exchange rate and oil prices on the Russian economy (+)
The day of many Russians begins and ends with searching for information about the current exchange rate. Its size affects our financial capabilities. The cost of imported goods and medicines, the cost of foreign travel, the cost of foreign cars and much more depends on it. The exchange rate is formed as a result of trading on currency exchanges. On them, money plays the role of a commodity that is bought and sold. Supply and demand determine the value of currencies in relation to each other. This is what is called the exchange rate. This value is not constant. It changes its value throughout the trading session. Until the 30s of the last century, the exchange rate of national currencies depended on the gold reserves of states. Each monetary unit corresponded to a certain gold equivalent. This approach to valuing the national currency changed with the introduction of the gold-currency system. Gold was replaced by a reserve currency, the role of which was chosen by financiers to be the US dollar. The ratio of the value of national monetary units to the dollar has become a fundamental factor in determining the exchange rate of national currencies.
Forecast
Today, most experts believe that precious metals will continue to rise in price, but there will not be a sharp increase in the exchange rate. They present both arguments related to all metals (mainly geopolitical) and individual ones (increasing inflation of paper money, finite reserves of precious metals).
For example, there is a version that by the end of 2021, platinum will practically displace palladium from the production of autocatalysts. This will lead to an increase in its demand, and consequently to a strengthening of its position.
Advantages and disadvantages of compulsory medical insurance
Compulsory medical insurance, like any financial instrument, has its pros and cons. The advantages of a metal account include:
- High liquidity with relatively low risks.
- No costs for transportation and storage of ingots.
- No need to pay VAT.
- Relatively small spread.
- Absence (most often) of bank commissions.
- Low entry threshold (from 1 gram for current compulsory medical insurance).
Flaws:
- There is a problem with interbank transactions under compulsory medical insurance (if you opened an account with Sberbank today, you will not be able to transfer metal to VTB).
- Inability to transfer grams from one compulsory medical insurance to another.
- You will have to file a tax return yourself.
- Lack of insurance.
The last minus is the most significant. He is one of the reasons why most investors in compulsory medical insurance today choose Sberbank: in conditions when you can lose everything, reliability becomes more important than profit.
Is it worth investing?
Precious metals, especially gold, have always been perceived as defensive instruments in stock trading. When there is a storm on the stock exchanges, stock quotes fall, it was possible to buy metal and even accumulate physical volumes in bullion.
As for investors and speculators, precious metals are very interesting in terms of trading on the stock exchange. Volatility will attract short-term speculators, and the prospect of sustainable growth in the future will attract investors.
For trading, there are opportunities for both a speculative approach (high volatility) and an investment approach (reliability of the asset and its high liquidity).
Investing in precious metals is not only possible, but also necessary.
How to make money on compulsory medical insurance
If you have chosen a speculative strategy, then you will have one tactic that has not changed since the first money appeared. Buy cheaper, sell more expensive - that's the whole secret. The only difficulty is predicting the course - even experts tend to make mistakes.
There is complexity. If you often withdraw money and buy metal again, the profit can be offset by the bank spread.
What does profitability depend on?
First of all, it depends on the type of compulsory medical insurance. He can be:
- Deposit (urgent).
- On demand (current).
In the first case, it will not be possible to withdraw money from compulsory health insurance before the deposit expires, and the income will consist of interest accrued on the account. It is advisable to establish deposit compulsory medical insurance for a long period - 3 years or more.
Today, it is impossible to open an urgent compulsory medical insurance at Sberbank, but for general education it is worth knowing about this, because the bank may revise its conditions - not today, then tomorrow.
The current compulsory medical insurance can be replenished unlimitedly, as well as withdrawal of funds. It does not accrue interest, and the trader’s benefit depends on exchange rate fluctuations and the ability to manage the deposit.
Profitability depends on the chosen metal. For example, if you bought gold, platinum or silver in September 2021, you still would not have received a percentage of the profit. But a bet on palladium would bring almost 3,000 rubles from 10,000.
Taxes on income under compulsory medical insurance
An investor who has opened a fixed-term compulsory medical insurance should not worry. The bank itself acts as its tax agent, which at the end of the year transfers the due percentage of the depositor’s income to the Federal Tax Service.
With the current compulsory medical insurance, and Sberbank today offers only this option, it is more difficult. Since the income from it is unpredictable (it may not exist at all), the trader will have to file a declaration independently. The scheme for calculating profits received from changes in exchange rates is simple: the obligation to pay tax arises only when the deposit is closed.
The fact that you filed a declaration yourself will not allow you to be recognized as evading personal income tax.
Account opening methods
An individual needs very little - just a passport, a certificate of TIN assignment (if any) and the required amount.
Poste restante
Those who decide to open compulsory medical insurance at Sberbank have two options:
- Come in person to one of the Sberbank offices (not just any branch is suitable - you should first check by calling 8-800-555-55-50 whether the nearest one is suitable for your home).
- Use the Sberbank Online service (only for personal account users).
In the second case, since the agreement with Sberbank has already been signed and your data is in the database, you can create compulsory medical insurance with a few clicks of the mouse.
Urgent compulsory medical insurance
Today, Sberbank does not offer to charge interest to investors for deposits in metal, so it will not be possible to open a deposit compulsory medical insurance. In those banks where such a service is available, the conditions for its provision are usually the same: either a visit to the office, or a simplified remote scheme for bank clients.
How to open compulsory medical insurance in the SB of the Russian Federation
If you have connected to the Sberbank Online service, you can open compulsory medical insurance today. The procedure will be as follows:
- Scroll down to the bottom of the main page and click “Go to the bank’s offer catalog.”
- Find the item “Metal accounts” in the list.
- Choose the metal that will become your currency (the most crucial moment!).
- Indicate the mass of the metal (the minimum in Sberbank is 0.1 grams of precious metal).
- Confirm the money transfer by clicking the “Continue” button.
- Read the contract carefully (it is short).
- Click on the “Open Compulsory Medical Insurance” button.
Congratulations: from now on you are the owner of several grams (or fractions of a gram) of precious metal.
Conditions under which the bullion will not be accepted at Sberbank
The bank has defined a number of restrictions, in case of which it may refuse to purchase bullion from an investor:
- If the case in which the ingot was sealed is opened.
- Unreadable information on the certificate.
- Lack of certificate.
- Rust or chipped surface of a gold bar.
- Inconsistency of the weight or dimensions of the ingot with GOST.
In these cases there is only one way, alas! All that remains is to hand over the gold to jewelry workshops or pawn shops at the price of scrap.
