The Ministry of Finance predicts an increase in demand for gold by 10 times
in the Ministry of Finance predicted the growth of investors for gold by 10 times. Particularly popular are the spectacular ingots of precious metal. Many banks expect gold growth in 2023. The demand for investment gold in Russia by the end of 2022 will increase by 8-10 times, said Deputy Minister of Finance of Russia Alexei Moiseev on the air of the Russia-24 television channel.
, according to him, the demand for precious metall “goes towards the stacking”, which forces the plants to rebuild production for smaller mats, To satisfy this demand. Moiseev noted that initially high demand for kilogram bullion was due to the adoption of the law on the abolition of value added tax (VAT) for the acquisition of gold ingots for individuals in March. In July, a law was adopted, releasing the revenues of individuals from personal income tax from personal income tax from the sale of gold ingots for 2022 and 2023.
in the VTB predict the strengthening of investment demand for precious metalls in large private investors in 2023, provided that inflation increases and the preservation of geopolitical instability. According to the bank in mid -November, the investment portfolio of the realized precious ingots in VTB has grown by 20%since October. In total, the bank’s customers since March have purchased almost 2.5 thousand of investment gold ingots with a total volume of more than 25 tons.
in the Bank of America (BOFA) awaits gold rally in 2023 amid a brace of the FRS monetary policy. Dragmetal quotes can exceed $ 2000 per ounce, the bank believes. BOFA note the growth of demand for gold from the part of central banks. However, for the rally The gold market requires increased demand from other buyers, including exchange funds (ETF).
in the HSBC bank expected to increase the price of precious metal after the first quarter of 2023, since earlier the tightening of the monetary policy of the Fed will be pressure on gold. The yellow precious metals next year can rise in price to $ 2100, and silver – to $ 30, according to Stansberry Research.
