Since ancient times, gold has been of exceptional value, being a measure of prosperity and stability. Gold standard in the 19th-20th centuries. all developed countries had. It provided financial stability. In a market economy, gold has become an international currency.
The gold rate in Russian banks today depends on many factors. Economic situations in both international and local markets have a primary influence. Gold investments are beneficial in the long term. Gold as a commodity has high liquidity. It can be quickly sold if necessary. I will tell you about the factors influencing the market price of gold assets in the form of bars, investment coins, and metal accounts. Below you will find the necessary information on where, how and at what rate to buy gold.
Online course schedules
Gold has always been a fairly volatile instrument, so it would be better to track its rate online.
Price of 1 gram of gold in Sberbank of Russia
It is interesting to see how the price of gold changes per 1 gram in the country's largest bank. This can be seen in the graph below:
Price of gold per gram in an unallocated metal account and physical gold in bullion
When comparing the cost of these two tools, you need to remember that they are completely different in meaning. Gold bullion refers to physical, that is, tangible. You can possess it, literally hold it in your hands.
Compulsory medical insurance does not make you the owner of gold for one minute. Today you open a bank deposit in precious metal units, that’s all. Your account contains equivalent value, not real gold. In the same equivalent (in terms of rubles) you will receive its value when you close your compulsory medical insurance in a year or another period.
This is why bullion will always be more expensive compared to OMS. In addition, when purchasing bullion, the price includes 18% VAT. Thus, the difference between gold investment rates at Sberbank today will be approximately 30% in favor of compulsory medical insurance.
But how much these prices differ from the Central Bank rate can be judged by official quotes.
| Price 999 standard according to the Central Bank | Bank price today | Scrap price | Price in jewelry |
Gold price per gram in investment coins
Those who decide to buy investment coins at Sberbank should understand that the selling rate will be higher, and the purchasing rate will be lower than that established by the Central Bank of the Russian Federation.
Sberbank offers not only standard investment coins, but also commemorative, numismatic, gem-encrusted, and collectible coins. In short, the bank is constantly expanding the range of products it offers.
Expert opinion
Alexander Ivanovich
Private collector with 4500+ coins and bonds in his personal collection. Knows the value of each of them today.
I can’t guarantee that the prices here are optimal for investors, so don’t be lazy to check the current cost of coins with all possible sellers.
As a rule, the rate of investment gold coins at Sberbank differs from the official rate of the Central Bank, up for purchase and down for sale.
Price of the Central Bank of the Russian Federation
Gold prices set today by the Central Bank are usually close to European prices. Let's take a look at the graph:
Forecast
According to most analysts, a rise in gold prices in the long term is inevitable. This is one of the few investments with an increased level of security and high liquidity. Gold cannot be classified as a new investment instrument. It has been used as a means of accumulation for more than one millennium.
In times of crisis, in conditions of economic and political instability, confidence in the dollar and its price decrease... Gold becomes a more stable and profitable investment, even on a national scale. By increasing purchases and reserves of gold by central banks, increasing the share of gold in the gold and foreign exchange reserves, countries support and stimulate economic development. Consistently high demand on a global scale stimulates the continued growth of gold prices.
How the price is formed, why it changes and is different in different banks
The rate of gold of different types in commercial banks differs, and sometimes quite noticeably, from the indicator established by the regulator. This is understandable - not only investors, but also banks strive to make a profit. In addition, the cost of the yellow metal itself today also does not stand still. What affects the price of gold
Changes in the value of a gold ounce depend on:
- global economic crises;
- US monetary policy and fluctuations in the exchange rate of its national currency;
- speculative movements of large market makers;
- exchange rate of our native ruble against the US dollar.
Fluctuations in world gold prices force our Central Bank to adapt and also change course.
Its rate is a reference point for other commercial banks that set their rates for today. At the same time, banks need to solve two problems at once - to make a profit and to increase the number of clients.
Therefore, their rates are different - whatever the pricing policy is, so is the rate. Where to turn, whether to choose Sberbank or a less popular financial institution, is up to the investor to decide.
Dynamics in recent years
When preparing to make a gold investment, you should not only look at the real-time price, but also monitor price fluctuations over the past few years. Gold prices change cyclically. Periods of growth alternate with protracted recessions. The global precious metals market is sensitive to political and economic crises.
Between 2000 and 2021, the price of 1 troy ounce increased fivefold, from $274 to $1,400. The peak rate was recorded in 2012 - $1,656 per ounce. After 2012, the price dropped significantly. A significant decline was also recorded in 2015 - 1060 US dollars per ounce. Gold prices have been rising since 2021.
Gold, Silver and Platinum Quotes from TradingView
Types of investments in gold
What can the monster of the domestic gold market offer us, private investors?
Compulsory medical insurance
Unallocated metal accounts are now successfully offered at Sberbank. They were very popular earlier, during the era of total growth in the gold rate.
Now the demand for them has noticeably decreased, especially with the emergence of other ways of investing in gold on the Russian market.
However, with skillful investment, compulsory medical insurance today brings a stable income. Although it is relatively small, it nevertheless exceeds the profitability of a bank deposit and often even exceeds inflation.
Ingots
Here Sberbank has no competition. It is the oldest player in the physical gold market. Its reputation is so high that gold bars purchased here will be gladly taken from you at any other bank.
The range offered today by Sberbank is very diverse. These are measured “bricks” weighing from 1 g to 1 kg, as well as standard ones - for those who like heavier specimens. Their weight varies in the range of 11–13.3 kg. Gold is sold only with a certificate and must be stored with the same care as the metal itself.
Investment coins
The range of investment coins offered by Sberbank is periodically updated. Therefore, it is better to check their availability, and at the same time the current exchange rate, in the catalog on the bank’s official website.
Which investment method is more profitable?
Of the options considered, the purely investment one is, of course, the opening of compulsory medical insurance. Today, both in terms of liquidity and profitability, it confidently outperforms the others. The only condition is that you need to understand that this account is opened for at least a year, and preferably for 3-5 years, in order to achieve maximum profitability.
If you close your account early, you will not only not make a profit, but may even end up at a loss. Therefore, gold investments require a balanced, unhurried decision. Gold is not a good instrument to speculate on.
What affects the price of gold
After the abolition of the mandatory gold standard, the price of the yellow metal is determined mainly based on the relationship between supply and demand. Gold is an indicator of the global economy as a whole. Directly or indirectly, the gold rate is influenced by the following factors:
- financial and energy crises;
- inflation growth rate;
- the emergence of new areas of application of precious metals;
- political decisions of individual countries and international organizations;
- imposed sanctions, embargo;
- hostilities;
- crises, natural disasters in countries that are the main producers and exporters;
- speculation by market participants.
The dynamics of the exchange rate in Russia completely repeats global fluctuations. The gold market does not depend on territorial boundaries.
Yield calculator for precious metals OMS
The amount of income from investments in metal accounts directly depends on how well the moment of purchasing metal is chosen. Income or loss in numbers can be viewed in the Compulsory Medical Insurance Profitability Calculator section.
I’ll show you with an example how the profitability of an impersonal gold account is calculated today.
Situation 1.
Masha purchased 100 g of gold in the form of compulsory medical insurance on 02/15/2017. At that time, Sberbank was selling gold at the rate of 2,341 rubles per gram. Thus, Masha paid 234,100 rubles. She decided to sell it on December 26, 2018, when the purchase rate became 2,709 rubles per gram, and gained 270,900 rubles. Income for the period amounted to 36,800 rubles, or 15.6% for less than a year. Obviously, this indicator significantly exceeds the profitability of a bank deposit.
Situation 2.
Vanya opened a gold compulsory medical insurance on November 8, 2016 at a sales rate of 3,043 rubles per gram and purchased 100 g of the precious metal (in the amount of 304,300 rubles). He hoped that the gold rate, which had shot up sharply, would break through the previous high and allow him to make a good profit. But the short-term breakthrough did not live up to expectations, and the purchase rate did not even come close to the numbers that Vanya had hoped for. Upset, Vanya decides to sell the metal on the same day as Masha and receives the same 270,900 rubles. In total, a loss was received in the amount of 33,400 rubles. (-eleven%).
Here is a clear example of a bad moment to enter an asset.
How to buy gold
Precious metal by weight is presented in various forms - sand, nuggets, bars, coins, products. Look at the video to see what a bank precious metal looks like. Possession of nuggets and gold dust is prohibited by law in the Russian Federation. To buy bullion, investment coins, or non-cash metal, you need to go to the bank.
When purchasing an ingot you will have to pay 18% value added tax. Coins are not subject to VAT, but the cost of a gram includes minting costs.
An impersonal metal account is opened according to the principle of a current account of an individual - a procedure that is known to everyone today. Only it is not rubles or other currencies that are stored in non-cash form, but metal in troy ounces. The invoice is not subject to VAT. Tax will only need to be paid when withdrawing money. Income received as a result of transactions carried out is subject to taxation at 13%.
Purchasing and storing bullion at Sberbank
The process of purchasing gold is quite simple. To carry out transactions for the purchase and sale of metal, the investor will only need a passport.
Please note that not all Sberbank branches have the right to conduct transactions with precious metals, so first check this information on the website, and then call the branch itself to confirm the availability of the selected asset.
The bank employee performs all operations himself, the client only has to deposit money into the cash register. After payment, you will be given gold, sealed in a special case, and a certificate attached to it.
Neither the bar itself nor the certificate must be subjected to any influence that could cause damage. All this entails a reduction in price up to the point of sale for gold scrap. Therefore, many buyers today prefer to store gold directly in a Sberbank branch.
Where is the best place to buy gold?
Among the commercial banks of the Russian Federation, the largest and most reliable is Sberbank. It has an extensive network of branches. The precious metal can be purchased in cash and non-cash in the most remote regions. In some localities, SB is a monopolist of the banking market. I advise you to check when purchasing whether your branch accepts the purchased bullion. The buyback service is not available in all branches.
For advanced investors, there are alternative ways to invest in gold:
- Futures contracts. Trading on the exchange is carried out with much smaller spreads and without bank commissions. This is a speculative way of trading precious metals with a circulation period of several months.
- Mutual Funds, ETFs (mutual and exchange-traded investment funds). They accept deposits in the form of impersonal gold at interest.
- Shares of gold mining companies. A risky alternative form of investing in gold.
Advantages and disadvantages
Expert opinion
Lyudmila Pestereva
Our most experienced gold investor
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The advantage of physical gold is its tangibility. No matter what happens in the world, you will not cease to be the owner of a valuable metal, which in the event of cataclysms or other crisis phenomena will only increase in price.
Physical gold can become damaged or rust if storage conditions are not maintained. By the way, if investment coins (for example, the ill-fated “George the Victorious”) can rust due to an incorrect production process, then with bullion this is almost impossible, because Sberbank gold is 999 fine and has no impurities at all.
What kind of sample is this
To begin with, gold in its pure form is soft and malleable. Imagine a ring that costs several thousand and easily becomes deformed when shaking hands.
To add rigidity, various alloys are added to the metal. The ratio of mass fractions of the composition determines the sample of the product. So, o means that the item contains 58.5% gold and 41.5% impurities.
It should be noted that the sample labeling system is used in European countries. It may differ for other manufacturers.
Composition and properties
White gold does not exist in nature. To significantly remove yellowness from the alloy, palladium, silver or platinum is mixed into it.
Due to its average price, 585 is perhaps the most popular among jewelers. In most cases, it is used to make rings, bracelets, and chains.
In Europe and some countries in other regions, the 585 sample is not so popular. Typically 750 and 800 samples are used. But this is connected with investment: in terms of price-quality ratio, the 585th sample looks more attractive.
Strength
Although more than half of the weight is pure metal, which affects the price, jewelry of 585 standard is durable, resistant to deformation and scratches.
Alloy shade chart
Depending on the amount and percentage of metals in the alloy, jewelry acquires its color. Below is a table with the features of some compositions.
| Color/sample | Gold, % (fineness) | Silver, % | Copper, % | Zinc, % | Palladium, % |
| Yellow/375 | 37,5 | 42,5 | 20 | — | — |
| Yellow/417 | 41,7 | 52 | 6,3 | — | — |
| Yellow/585 | 58,5 | 30 | 11,5 | — | — |
| Yellow/750 | 75 | 15 | 10 | — | — |
| Yellow/917 | 91,7 | 5 | 2 | 1,3 | — |
| White/375 | 37,5 | 62,5 | — | — | — |
| White/417 | 41,7 | 47,4 | — | 0,9 | 10 |
| White/585 | 58,5 | 32 | — | — | 9,5 |
| White/750 | 75 | — | — | — | 25 (or platinum) |
| Pink/375 | 37,5 | 20 | 42,5 | — | — |
| Pink/417 | 41,7 | 20 | 38,3 | — | — |
| Pink/585 | 58,5 | 10 | 31,5 | — | — |
| Pink/750 | 75 | 9,2 | 22,2 | — | — |
The given compositions are typical for production, but not the only ones. Thus, nickel can be included in 585-carat white gold, which will be discussed below.
White gold contains more silver and other valuable metals than the usual yellow alloy, and copper is not used at all. That is why the price of white gold, for example, 585-carat, will be higher than yellow or pink alloys of the same marking.
Brand
Distinctive marks (stamps) were created to guarantee the authenticity of the alloy and determine its real price. They have been around since the 1200s, since the time of King Louis IX of France and Edward I of England. These are some kind of echoes of the very first consumer protection laws. Counterfeiting was punishable by death.
In 1972, a group of European countries signed the Vienna Convention on the Control of Fineness and Marking of Precious Metals.
The presence of a hallmark means that no additional examination is required, and jewelry marked “585” actually contains more than half gold. In some countries, such as Italy, India and China, gold hallmarking is voluntary.
How many carats are in this sample?
Some countries do not use the European system, but measure the purity of gold in carats. In terms of “karatej” (or carat) it meets our standards and looks like this:
| Try | Carat |
| 375 | 9 (England, Canada and some others) |
| 417 | 10 |
| 583 (585) | 14 |
| 750 | 18 |
| 833 | 20 (Asia) |
| 999 (1000) | 24 (pure gold) |
The minimum number of carats for an item to be considered gold varies by country. So, in the USA, 10 carats is the minimum acceptable standard. In Austria, Portugal and Ireland it is lower and can be equal to 9.
14 carats, strictly speaking, equals 583 fineness. But since the carat calculation does not provide for the 585th fineness, it was decided to round this value.
Procedure for selling bullion
In terms of complexity, selling is no different from buying. One important difference is that a Sberbank employee carefully examines the bullion and its certificate in order to issue an opinion on its condition. This is what determines how much it will cost today.
Also note that the purchase price is always lower than the sale price.
Selling a bullion purchased from another bank
To the delight of clients, Sberbank does not refuse to accept gold purchased from other banks. The conditions are the same:
- The condition of the bar must be either excellent or satisfactory.
- The bar must be accompanied by a legible certificate.
- To sell “other people’s” gold, Sberbank will also need a client’s passport.
Which banks buy and sell gold
Not all commercial entities have the right to conduct transactions with gold. To do this, the bank must have a license from the Central Bank. Today, 207 Russian banks can sell and buy precious metals. A number of requirements are also put forward for a specific bank branch:
- specially equipped storage;
- scales;
- personnel qualified in the field of precious metals.
The leader in the volume of transactions with banking metals is Sberbank. There you can buy 1 bar or more not only from gold, but also from silver, platinum, palladium.
SMP Bank and Nomos sell gold and silver. The Bank of Moscow and Promsvyazbank buy and sell only gold bars. Many banks work exclusively with impersonal metal accounts.
When selling bullion to a bank, you may encounter some difficulties. This service is not available in all branches. Some banks only buy bullion produced in Russia or purchased from them.
You should store not only the ingot, but also the certificate for it, the receipt of purchase. Be careful when storing your gold. It is almost impossible to sell a damaged ingot back to the bank, and the price of scrap will be far from the market price.
Taxes and restrictions on acquisition
There is nothing complicated about paying taxes when buying physical gold. The notorious VAT is already included in the price, so whether you like it or not, you pay it right away.
There is also an income tax - well known, with a rate of 13%. However, you don't have to pay it. To do this, you must have owned the bullion for more than three years. Therefore, be sure to take this into account when choosing the moment of purchase. If you doubt that you will be able to keep it for the entire period, it is better to hold off on purchasing it. Why overpay if your income is already low?
What else you need to know when buying gold bars
Purchased bank gold must be stored carefully along with documents. At a minimum, a damaged ingot or certificate significantly reduces the value of the metal. There is a risk that the bullion will not be accepted back at all. VAT paid upon purchase is non-refundable.
Buying physical or unallocated gold is only justified in the long term. Compulsory medical insurance does not fall under the deposit insurance system, and therefore inherits banking risks. The advantage is that you don’t have to worry about the safety of your bullion.
I shared with you my many years of experience working with banking metals. Write to the forum which investment option in gold appeals to you. Click the button and share useful information with your friends!
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.
Advantages and disadvantages
There are many advantages. The material is pliable and easy to work with. In this regard, white gold is very popular among jewelers. The jewelry has a brilliant shine, even more attractive than the platinum itself.
There is enough white gold for everyone, it is produced in abundance, available in different segments that determine the price. It is the most popular metal in the engagement ring market. Finally, he is always in fashion.
The only drawback is that the rhodium plating wears off, and the cost of re-rhodium plating is quite high. However, many jewelry companies include this process in their warranty service. If not for this drawback, 585-carat white gold would be a win-win option.
Opening compulsory medical insurance in Sberbank: step-by-step instructions
Opening your own impersonal gold account with Sberbank today is no more difficult than opening a standard deposit.
There are two ways:
- Directly in the office through a consultant.
- Registration in the Sberbank-Online application.
First, let's consider the option of opening compulsory medical insurance in the office. For this you only need a passport. The process goes like this:
- Check the list of offices where compulsory medical insurance is opened (in the table on the official website of Sberbank).
- You come to the office and tell the consultant that you want to open a gold compulsory medical insurance.
Important! Don't forget to check the rate at which gold will be sold to you. If it has already changed and you are no longer satisfied, refuse to open compulsory medical insurance, because this means your automatic consent to purchase metal at the current Sberbank rate.
- If necessary, the consultant opens a personal current account for you. You can use an existing one if available.
- The consultant creates a new metal account for the amount agreed upon by you. Money will be immediately credited to it, converted into grams of gold at the Sberbank rate for compulsory medical insurance.
- You still have in your hands the documents for opening a current account and a metal account (the opening amount in grams of gold will be indicated there).
In the Sberbank-Online system everything is much simpler. The main thing is to take care of the availability of funds in one of the accounts (including debit or credit cards). So you do the following:
- Log in to Sberbank Online (from a computer or mobile device).
- Go to the "Metal Accounts" section.
- Select gold from the list of metals.
- Enter the information in the form provided. Carefully read the terms and conditions and other important details of opening an account.
- Confirm the purchase of gold at the current rate.
Unlike a deposit, this account is perpetual, that is, you do not need to worry about its renewal.
The only negative is that this type of account is not protected in case of bank bankruptcy. However, Sberbank certainly deserves trust, since it will be one of the last if the entire banking system suddenly decides to collapse.
In addition, by becoming a client of Sberbank, you have access to Sberbank Online, where you can, if necessary, close compulsory medical insurance at any time. In this case, the money at the exchange rate at the time of closing will be transferred to the current account, and it is already covered by the insurance program from the DIA.
Price formation
Quotes for any resource sold on stock exchanges or financial institutions depend primarily on the volume of its production. When it comes to precious metals, the companies involved in their development maintain a balance that allows them to combine value with their own maximum profit. Since gold is a rather rare mineral, as its quantity on the market increases, the price decreases.
Demand is the second important factor influencing the price of any precious metal, including silver or palladium. It is consumed mainly by enterprises in the jewelry and instrument-making industries. As production increases in these industries, the need for raw materials increases. Accordingly, the quotes of the yellow metal are skyrocketing.
Large investors prefer to invest in valuable assets to insure risks. In addition, there is an inverse relationship between the dollar and gold. This means that when the price of the American currency increases, its price for the metal decreases and vice versa. There are exceptions when inflationary expectations arise and the economic situation in the United States simultaneously improves. But these periods are rare and short-term.
State central banks have a certain influence on the exchange rate stability of gold. Some of them keep up to 80 percent of their gold and foreign exchange reserves in this resource. By buying and selling it, they adjust the stock price.
For an ordinary consumer who wants to preserve their savings, it is difficult to predict fluctuations in precious metals quotes.
This is due to the fact that large market players prefer to keep important information secret, releasing only a small part of it into the public domain. Therefore, they have to rely on the price lists of major financial institutions for gold. The price per gram today in Sberbank of Russia is one of these beacons.
Reviews
Website "Motherhood". You can agree with Tata on some things. I would add: “And the poor don’t need to know that it is gold and what its price is.” But here’s the phrase about “585 standard is a scoop.” Hm…
Reviews "Yandex.iQ". The girl's 585 gold turned white. And here we are talking about rhodium...
Forum "Fish shop". Such reasoning also occurs. Our white gold, 585, turns out not to be gold at all. This is an alloy. Why is its price higher? What about the price?
