Russians embrace precious metals: Sberbank sold 89 tonnes of silver and 7 tonnes of gold in 2022

From kitco.com

Russia's largest lender Sberbank sold 100 tonnes of precious metals, and 89 tonnes of that was silver. Sberbank customers have opened 300,000 new unallocated metal accounts between January and September, Interfax reported, citing the bank's statement this week. And the total amount of precious metals sold was around 100 tonnes. According to the bank, nearly seven tonnes of that was gold, 89 tons was silver, and a tonne each of platinum and palladium. On gold, Russians spent around $550 million at Sberbank. Unallocated precious metal accounts mean the bank remains the owner of the precious metal bought, and the ... (full story)