Russian gold investments are a good option for people looking for investing their money. Read our guide below for more facts and information on investing in gold in Russia…
Gold has been and continues to be the most preferred and comparatively the safest form of investment for investors globally. The escalation that gold has witnessed in the last decade is phenomenal. The minute the market looks shaky, investors rush to buy gold as it is one commodity that never fails to deliver and keeps your money safe. Russian gold investments look quite bullish as the Russian gold reserves are estimated to be around 5,000 tons and are currently the point of attention for investors.
Facts about Russian gold
Russia is a country that is extremely rich in natural resources that are estimated to be valued at +200 trillion USD. It is the world’s largest supplier of gold with 11% of global gold reserves. Abundant natural resources have made Russia one of the most profitable and largest markets globally.
During the time of USSR, gold mining was owned and controlled by the government; but after the dissolution, the government decided to go in for deregulation in the gold mining industry. As gold was at an all time low at that time, it did not take long for all the Russian gold reserves to desiccate and production of gold went down drastically.
However, the market soon changed with the West showing a renewed interest in Russian gold and this saw an escalation in gold production. The production increased from 4.7 million ounces in 1992 to 6.5 million ounces in 2009, which is a good 38% hike. The target for gold production in 2015 is estimated to be 7.9 million ounces. According to geologists, Russia still holds about 40% of the world’s un-mined gold. These figures are a clear reflection on why it is a good time to choose Russian gold investments.
Best 5 Russian Gold stocks
Russia has about 600 companies, with 300 in the private sector, working in the gold industry. The top 5 public companies that have the maximum gold production are Polyus Gold with production at 1.26 million ounces, Kinross Gold with production at 694,000 ounces, Petropavlovsk with production at 487,000 ounces, Polymetal with production at 311,000 ounces and High River Gold Mines with production at 236,000 ounces annually. The current market scenario is the best time to look at Russian Gold investments to reap substantial profits in the future.