Page 40 - Bullion World issue 2

Bullion World | Issue 02 | June 2021
Bullion W orld | Issue 01 | Ma y 2021

INTERNATIONAL news

Britain continues

to be the main
buyer of Russian

gold

Data from the Federal Customs Service
showed that Russia’s exports of gold
surged by 220% in March year-on-year,
amounting to 26.5 tons, worth almost
$1.5 billion.Exports were 2.3 times higher
than in the previous month, the report
revealed.The United Kingdom remained
the major buyer of Russian gold,
purchasing 21.1 tons, worth $1.2 billion.
Data, however, did not show whether
the purchased gold will stay in the UK
or will be sent to other countries, since was also delivered to Kazakhstan, Switzerland, Armenia, and other
London is an important world hub for the countries.Overall, Russia’s gold exports in the first quarter of 2021
turnover and storage of precious metals. amounted to 51.8 tons, worth $3 billion. In physical terms that’s a
According to the statistics, around 1.5 72% increase from the same period in 2020.
tons of Russian gold has been exported
to Turkey and India. The precious metal Source: https://www.rt.com

World Gold Council

Report Shows Gold
Gaining Strength

Gold is gaining strength from consumer demand as
the global economy continues to recover, according to
the World Gold Council’s most recent quarterly report,
released. Though gold demand is still down 23% from
Q1 2020, it remained roughly on par with Q4 2020,
holding steady at 815.7 tonnes. Jewelry spending
was at 477.4 tonnes with a value of $27.5 billion, the
highest it has been since the first quarter of 2013. After
a year spent in lockdown, this is a substantial recovery,
despite the fact that the precious metal is still below the
5-year quarterly average of 505.9 tonnes. Bar and coin
investment soared upwards of 36.6% year over year,
due to bargain hunters seeking to take advantage of
upcoming inflationary pressures.

Source: https://www.nasdaq.com

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