Prices for INGOT this year rose nearly 28% due to geopolitical risks and trade intensity.
Exporting precious metals from Russia to China has been practically duplicated in the first half of 2025. This has been possible thanks to record prices for gold, reports the Bloomberg news agency.
According to China’s customs service, the importation of Russian ores and precious metals in China, including gold and silver, increased by 80% to $ 1 billion compared to the same period last year.
Prices for this year’s INGOTTS rose nearly 28% due to geopolitical risks and trade intensity, as well as hiring central banks and exchange of investment funds.
Russia, the second largest gold manufacturer in the world with an annual acquisition of more than 300 tons, was removed from Western Shopping Center-London and New York-after a full-fledged Ukraine invasion in 2022.
The bank of Russia, previously the largest central gold bank of the world, has not continued in large purchases, as a result of which China remains one of several large markets left for the country.
Gold miners in Russia also received support thanks to the growing internal retail demand, which in 2024 reached a record level, as the Russians turned to precious metals to protect their savings.
As we have written, according to Ukraine’s Foreign Intelligence Service, Russian’s Russian National Welfare Fund, $ 150 billion, which is a full -scale Ukraine invasion of 2022, $ 38 billion remained.
World Central Banks bought more than 20 tons of gold in May
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.