This was announced by Alexander Sudnik, Deputy Minister of Finance of Belarus. According to the deputy minister, standardised gold bars have traditionally served as a savings instrument for the public.
“And today we are seeing that, amid fluctuations in the financial and foreign exchange markets, demand for standardised gold bars is rising significantly,” the Belarusian portal tochka.by quotes the Deputy Minister of Finance as saying.
He added that people are also buying standardised gold bars manufactured in Belarus. The relevant production facility has been operating in the country since 2022. This is an import-substitution project. Belarusians are offered options in various denominations – ranging from 1 g to 1 kg.
“Over this entire period, around 86,000 standardised gold bars have been sold, which means we can see that there is a certain level of interest in this form of saving,” said Sudnik.
At the same time, the Deputy Minister emphasised that it is important to understand the risks associated with the value of the precious metal. However, in the long term, investing in bullion yields good returns, added the Ministry of Finance representative.
Logos Press previously reported on Belarus’s own gold and foreign exchange reserves, within which gold holdings have remained stable since October 2021 and amount to approximately 1.7 million fine troy ounces.
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