In recent years, Russian jewellers have maintained a strong position in the domestic gold jewellery market with their own production by volume (in tonnes) at a level of at least 96% of the market. A correct assessment of the real dynamics.
The fact that there is an intention in Russia to replace traditional currencies - the dollar and euro - for gold as an investment tool for the population became clear even when the Tax Code of the Russian Federation was amended to allow the sale of refined.
On February 24, 2022, the jewellery business, like any other business in Russia, was divided into “before” and “after”. Without an actual suspension of the circulation of the main currencies (dollar and euro), the events led to the de facto return.