Last year, Muscovites invested the most in gold. They bought more than six thousand bars with a total weight of 389 kilograms and a value of 1.89 billion rubles, Sberbank told the statistics of its branches.
Silver was in second place, and platinum was in third. In total, Muscovites purchased 8,879 bars of precious metals with a total weight of 1,162 kilograms in a year for almost two billion rubles. This is 2.5 times more than was spent in 2019.
Also, residents of the capital bought 205,917 investment and commemorative coins. Their total weight exceeded 2.5 tons, and the total cost was about 6.5 billion rubles. This is almost three times more than in 2019. The greatest demand among Muscovites was for gold and silver investment coins “Victorious”.
Consumer demand for gold in the world in 2020 fell to a minimum over the past 11 years (up to four thousand tons). At the same time, investment demand for the metal showed record values. It has increased by 40 percent. The price of precious metals in dollars increased by 25 percent over the year.