Platinum rate in Sberbank of Russia for today: online price chart for 1 gram + dynamics of quotes for all time

Platinum | USD | 1 oz

How the price of platinum is formed

There are quite a lot of factors influencing the pricing of precious metals. Any of them can shift the value of Pt in one direction or another.

The following are noted as the main ones:

1. Foreign economic situation. During economic crises, production stops, demand decreases, and accordingly, prices fall. In a stable economy, platinum can cost twice as much as gold.
2. Investment activity.
3. Scientific and technical progress. The emergence of new applications for platinum causes an increase in demand and rising prices.
4. Fluctuations in the rates of major world currencies.
5. Production cost. The development of platinum deposits is more labor-intensive and expensive than gold or silver.
6. The relationship between supply and demand. 90% of platinum deposits are concentrated in 5 countries - Russia, South Africa, USA, China, Zimbabwe. This means that supply is limited. Demand is mainly generated by industrial consumption.

The listed reasons affect the cost of other precious metals. An increase in platinum prices is usually accompanied by a similar reaction in the rates of gold and palladium.

Analysis of supply and demand on the global gold market

Gold has always been the main precious metal.
Money was made from it even before our era, and right up to the First World War it was the support of the world financial system - the value of paper banknotes was supported by gold reserves in vaults. Gradually, they decided to abandon the gold standard - there was too little metal to balance the rapid growth of the world economy. In the 21st century, countries print as much currency as they see fit and manipulate the rate in their own interests, but gold remains a valuable asset of any country as part of the gold and foreign exchange reserves of central banks. Today gold has a wider scope of application:

In general, the demand for gold has been falling recently, this is especially noticeable in 2021. However, the demand for investment gold is higher than ever - as I already wrote, during the crisis, investors buy the metal in large volumes, with the main increase coming through online in the form of ETFs. Demand for physical metal (bars and coins) remains relatively stable, having fallen slightly in recent years.

Until 2021, approximately half of gold demand came from the jewelry industry. It’s unlikely that you need to talk in detail about the variety of gold jewelry - rings, earrings, bracelets, pendants, necklaces and much more are made from it. Gold is most loved in China, India and the Middle East.

Demand from central banks is an interesting point that differentiates the gold market from other precious metal markets. Essentially, this is a guarantee that the price of gold will never fall too much, because it is part of the financial reserves of all countries in the world. Moreover, developing countries want to reduce their dependence on the dollar and are trying to increase their accumulation of the metal. The main buyers are India, China, Türkiye, Brazil, Russia.

Gold enters the world market from all regions of the world. 50 countries mine more than 10 tons of gold per year, the top five are China (400 tons), Australia and Russia (300 tons each), the USA and Canada (200 tons each). Production is distributed almost evenly across regions:

Production is growing annually by about 3%, with particularly high rates in Africa. The cost of production remains at $1,000/oz. Recycling was high in the early '10s, but has dropped a bit now. Overall, gold supply has been rising since 2013 and is projected to suffer only slightly in 2020 due to coronavirus restrictions. In conditions of fallen demand, this creates a surplus on the world market:

When gold prices fell sharply in 2013, investors turned away from it and the supply of the metal gradually began to outweigh demand. In 2021, more than 400 tons of metal remained unclaimed, but this figure pales in comparison with the projected results of 2020: almost 1,000 tons of mined gold should have remained unused. As for me, this doesn’t really fit in with the rate growth of $400 per year, so we conclude that now other pricing factors play a decisive role.

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Compulsory medical insurance rate in Sberbank of Russia for today: online price chart for 1 gram + dynamics for all time
Sberbank offers its clients to track the compulsory medical insurance rate valid for today online. Here you can not only see the latest quotes, but also analyze the exchange rate dynamics for any selected period for each metal, and, if necessary, print graphs.

Gold

In 1976, the gold standard was abolished at the Jamaica Conference. From that moment on, the world's major currencies were no longer backed by gold, and the metal itself became an object for investment. There is a relationship between the situation in the country’s economy and the gold rate

During a crisis period, when the economy is unstable, investors pay attention to gold, and its price rises

During periods of economic growth, when efficiency is required, currency comes to the fore, and the gold rate, accordingly, falls. Thus, gold today is an indicator of economic stability and at the same time a guarantor of financial security in times of crisis.

Today, gold is in first place in popularity when opening compulsory medical insurance at Sberbank.

Silver

The second popular metal today is silver. Since it is more common than gold, its price is much lower. If we consider it today as an investment object, then in the short term silver is a rather risky option.

The reason is that the price of silver constantly fluctuates, while other precious metals are more stable. But, on the other hand, due to sharp fluctuations in the exchange rate, you can get a good profit if you sell the investment asset on time. Other metals have lower returns over such short time periods.

American experts are confident that the time is approaching when silver will equal gold in exchange rate, and perhaps even surpass it. This is due to the fact that, according to some data, silver resources on earth today are almost exhausted. But before you buy silver, keep in mind that they have been predicting an increase in quotations for this precious metal for several years now, but growth has not yet been observed.

Palladium

Palladium is the rarest metal of these four. Although, according to some estimates, its reserves in the ground are on par with gold, mining palladium is much more difficult. And the volume that is produced today does not correspond to the growing demand.

Palladium is indispensable in some industries, especially in mechanical engineering. And since this area is developing at a gigantic pace, the demand for it is much higher than the supply. This shortage has existed for the past 8 years, and, according to experts, this situation will continue for at least the next five years.

Today, the price for palladium at Sberbank is already higher than gold. However, experts from Commerzbank (Germany) consider the current situation with the exchange rate to be speculative and predict a downward adjustment in prices already in the first half of 2021.

Platinum

If investors choose gold during a period of economic recession, then platinum is chosen during a period of growth. Therefore, it is often advised to invest in both precious metals at once. Thus, financial losses on one exchange rate are compensated by an increase in the cost of another.

However, over the past few years, the price of platinum has remained at its lowest level. According to experts, the metal has become practically unprofitable for mining and with the slightest reduction in price, platinum can already be excluded from the list of precious metals.

What is platinum and how much does 1 gram of it cost?

In appearance, platinum has a characteristic metallic luster with a silvery-white tint. Its price is determined by the international market based on existing demand and annual production volume. Areas of application of metal: industry and jewelry.

This metal owes its name to the river of the same name in Spain. It has been known since antiquity: in the seventh century BC, inserts for gold jewelry were already made from platinum.

Due to the low content of platinum in the bowels of the earth, 1 gram of it can cost almost the same as gold. It is in demand on the market, as it belongs to noble metals such as ruthenium, rhodium, osmium, and iridium. It can be used either separately or as part of various alloys.

There are few known deposits of this precious metal. Approximately 90% of all active mines are located in the Republic of South Africa and the Urals in the Russian Federation. Some quantities are also mined in Colombia and Canada. Platinum is a very rare metal, so its price is high. Compared to gold and silver mining, the development of platinum deposits is extremely labor-intensive and expensive.

How much does 1 gram of platinum cost on the Russian market?

We will look at how to independently calculate the cost using a specific example: let’s take real data that is current as of November 26, 2021.

First, we find out the exchange price of platinum and the dollar exchange rate - quotes on our website are updated in real time. The stock quote at that time was $893 per 1 ounce of platinum metal. Thus, the cost of 1 ounce of platinum in rubles will be:

US$893 * RUR 63.7637 = 56,941 rub.

Next, we convert to grams (one troy ounce equals 31.104 grams):

RUR 56,941 / 31.104 g. = 1,831 rub.

This is the price for 1 gram of platinum.

To find out the cost of 1 gram of platinum, you can also refer to the official quotes of the Central Bank. On banking websites you can also observe the dynamics of changes in value - this is important when deciding on the benefits of buying or selling at a particular point in time.

The scope of application of platinum is not limited only to jewelry craftsmanship. It is often used in the oil refining industry as a catalyst for the operation of fuel cells, as an additive to cobalt in the manufacture of computer hard drives, and in medicine in the design of pacemakers.

Almost all platinum produced on earth finds industrial use. Hence the reliability of investments in this precious metal, the price of which will never drop to a critically low level; its value can remain stable for a long time. To verify this, you can trace the dynamics of the price of 1 gram of platinum over the past 5 years in the illustration below.

How to buy gold bars at Sberbank

Silver rate in Sberbank today

To provide services for the purchase/sale of gold bars (platinum, silver and other metals), a banking institution, according to the legislation of the Russian Federation, must be equipped with:

• specially equipped storage room;
• scales with an accuracy of 0.01 g.

Also, the bank must have competent employees who can advise and serve clients-buyers/sellers of bullion at the highest level. Individuals, in order to invest money in gold and open a metal account with Sberbank, need a citizen’s passport or any other document that can verify their identity. Legal entities and individual entrepreneurs must provide the bank with evidence that they are registered with the Federal Tax Service. You can also buy or sell a gold bar using a notarized power of attorney. A proxy's passport is required.

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During transactions involving the sale or purchase of precious metals, an authorized bank employee carries out:

• external (visual) control;
• determining the weight of ingots;
• recalculation;
• checking the results of visual inspection and recalculation for compliance with the quality certificate;
• preparation of the necessary documents accompanying the transaction (transfer and acceptance certificate, cash receipts, etc.).

The documents must contain the following information:

• the name of the precious metal - the object of the transaction;
• sample (in ppm);
• ingot mass;
• unique number (cipher);
• number of ingots;
• total purchase amount;
• the price of gold is the cost of one gram;
• date of purchase/sale.

List of branches where you can buy bullion

Despite the prevalence of Sberbank branches, not everyone carries out transactions with precious metals. You can view the list of Sberbank branches that offer services for the purchase/sale of gold bars, as well as find out their addresses and contact information on the bank’s official website or in the table below.

Table. Sberbank branches where you can buy/sell gold bars.

Attention! Some Sberbank branches may only have a license to sell gold bars without the right of repurchase.

Gold rate in Sberbanks and what it depends on

Exchange rates in Sberbank for today

The Sberbank gold quote shows the level of increase in demand from investors in the form of individuals. These data then serve as a kind of guideline for other credit institutions. Having analyzed the growth chart of gold prices over the past few years, you will see the dynamics of rising prices for precious metals. The increase during this period was more than sixfold. Sberbank posts current gold rates on its website every day. You can view these indicators online.

In addition to this information, the Sberbank online service allows you to analyze the dynamics of changes in quotes over the last decade. This method is especially useful for potential investors. The indicators on the website are presented in the form of clear, simple graphs and tables. These indicators are downloaded or printed on a separate sheet of paper.

On the website, track changes in gold prices and predict further increases or decreases in tariffs. There is a corresponding profitability calculator that calculates the planned profitability of the deposit made.

When forming its exchange rate, Sberbank takes the quotes of the Central Bank of the Russian Federation as a basis. The bank is based on the fixing of the London Stock Exchange.

The following factors may influence the formation of Sberbank’s exchange rate for precious metals:

1. The cost of banking services in the process of performing transactions for the purchase and sale of gold.
2. Changes in demand for metal.
3. The presence of a specific benefit for the financial institution.
4. Seasonal variations.
5. Differences in regional rates.

The price of gold is also affected by the form in which the metal is purchased:

1. Coins.
2. Gold bars.
3. Compulsory medical insurance.

Gold bars have a high price. The cost of purchasing coins will cost the same amount. The main reason for high prices is the presence of tax tariffs. The tax is called value added tax and is 18%.

What privileges are available with the Sberbank Visa Platinum card?

The most important feature of the Platinum Visa card is the presence of numerous privileges that are available to every holder. So, in 2021, the user of such plastic receives:

• high level of participation in the “Thank you from Sberbank” program;
• earning up to 30% points for purchases from partners;
• up to 10% of transactions at gas stations and when paying for a taxi will be returned as bonuses;
• 5% cashback works in cafes and restaurants;
• 1.5% refund for all purchases in supermarkets;
• discounts from the payment system - for example, 15% on taxi trips, free roaming abroad, 50% discount on a subscription to the Okko cinema and much more.

With skillful use of the Sberbank Visa Platinum card, it will be possible not only to compensate for the cost of annual service, but also to receive additional benefits in the form of bonuses, and where to spend them, the client decides independently.

Types of investments in platinum

Today, there are several simple and publicly available ways for individuals to make a contribution to this metal.

Compulsory medical insurance

An unallocated metal account makes it possible to make money on exchange rate fluctuations, since the bank’s commission for transactions with non-cash precious metals is minimal. Profits from operations are subject to income tax. The tax agent is the account owner. However, after 3 years of owning the platinum, profits from its sale are not subject to taxation.

Ingots

Sberbank of Russia currently sells refined platinum ingots weighing from 5 to 100 grams. However, this method has its drawbacks. The VAT levied on purchases and the costs of storing bullion make purchasing bullion less attractive in terms of earning money.

Investment coins

Hoarded platinum coins are not issued today. But Sberbank of Russia offers an assortment of commemorative banknotes made from this metal. The advantage of this type of deposit: no VAT is charged, small circulations of coins and how old they were made. The most recent release took place in 1995, which plays into the hands of the owner of the item.

Which investment method is more profitable?

The best prospects for today are provided by compulsory medical insurance. Rates of physical precious metals in bars and coins due to taxes, bank markups and related expenses will most likely bring losses. Even in the event of a record price increase, the same metal account will provide a profit unencumbered by additional expenses.

Where can you buy or sell

For those who have decided to invest long-term in platinum, there are several options for purchasing the metal:

1. You can buy and sell physical precious metals in the form of bars and coins at a bank.
2. It is also possible to open an impersonal metal account there.
3. Options for advanced investors - stock exchange, investment fund.

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Our most experienced gold investor

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Unfortunately, unlike gold, impersonal platinum is not sold on an exchange. The only option is futures contracts, which allow you to trade at world London fixing prices.

Execution is guaranteed by the exchange and allows you to make a profit both due to the increase in the value of the metal and due to the difference between the contract price and the market value of the asset.

Coins/bars in a bank

Platinum bars and coins are not as popular as gold, so they are not available at all banks. When purchasing with bank takeaway, VAT is added to the price. The tax is not paid if the metal is left for safekeeping in a bank safe. The profitability of investing in coins depends mainly not on weight, but on their collectible and numismatic value.

Compulsory medical insurance

Opening an impersonal metal account allows you to reduce purchasing costs. Income can be obtained by changing the exchange rate, buying on a decline and selling on an increase in quotes.

Mutual Fund/ETF

Mutual funds are not traded on an exchange, but invest investors' money in derivatives, charging a commission of 1 to 5%. ETFs are funds traded on an exchange. They issue their own shares, secured by the value of the acquired assets. Stock prices, and therefore possible income, are completely dependent on changes in the value of the precious metal.

What are metal bills?

A long time ago, industrialists and bankers turned their attention to one interesting fact in the financial world: the constant increase in the price of gold and silver. Taking this nuance into account, US banks in the 18th century offered clients to invest not in stocks, which was very popular, but in gold

The price of a troy ounce of pure gold (31.1034768 grams of 999 fineness) was set at $19.35.

Two centuries later, this form of market relations came to Russia, but in modern Russia (late 20th century). Ordinary citizens began to save their money from voracious inflation in jewelry, which was bought not for decoration, but with the goal of preserving and increasing their wealth.

But this form of investing an individual’s funds has two problems:

• There are no precious metal bars on sale, which are more profitable to buy than jewelry - a gold bar is easier to sell;
• Storing this type of capital at home did not guarantee its safety (preservation). For burglars, this is a tasty morsel, and modern safes are not always an obstacle.

Taking these factors into account, banks offered their clients to open metal accounts.

In the classical sense, a metal account is an account opened by an individual or legal entity for storing or buying/selling precious metals: gold, silver, palladium and platinum. There are two types of such accounts:

• responsible storage (sometimes called responsible storage), when real precious metal bars with stamped numbers and unique features (sample, place of casting, etc.) are placed in a bank’s special storage facility;
• an impersonal metal account (OMA), which does not provide for the client’s ownership of real precious metals. Here the principle of linking the funds deposited to the account to the rate of the selected precious metal is applied, i.e. the open account contains metal in grams, but only in virtual form.

How it works

A small number of Sberbank clients know how to make money on a foreign currency account. After all, Sberbank does not accrue interest on it (there is no metal deposit account). Profit for both the bank and the client is generated only when buying and selling gold, silver, palladium or platinum, which is carried out by the account holder independently or by the bank on his behalf. At the same time, the bank, in principle, cannot lose its capital, and the client, in the event of an unsuccessful transaction, cannot even go into the red.

The funds received are kept on compulsory medical insurance and wait for the moment when the bank sets the selling rate below the mark of 2,300 rubles. followed by the purchase of bullion. Result: the amount of gold in grams has increased compared to the initial investment.

Conservative clients wait a long time, three or more years, and only then sell their bars. During this time, the price of gold increases significantly.

Advantages and disadvantages

Each banking product has its own strengths and weaknesses. Compulsory medical insurance also has them. In order not to make mistakes when deciding to invest in precious metals, the client should know the pros and cons of a metal account with Sberbank.

Pros:

• Precious metals purchased on an impersonal account are not subject to value added tax of 20%;
• high liquidity – metal stored in the account is sold in a matter of hours and vice versa, bought almost instantly;
• no risks during metal storage and transportation;
• no commission for opening and maintaining an account;
• the ability to open compulsory medical insurance to any individual, including in favor of third parties;
• low minimum opening threshold - 0.1 g for gold, platinum and palladium, 1.0 g for silver;
• the opportunity, when closing an account, to receive not paper money, but metal in the form of ingots (you will have to pay VAT in the amount of 20%);
• minimal risk of losing savings.

Minuses:

• high spread. For example, in Tinkoff Bank and VTB it is much lower;
• low profitability (on average 3-4%);
• lack of insurance from the Deposit Insurance Agency - if the license is revoked, the client completely loses his money;
• the need to independently pay income taxes (with a cash deposit, this responsibility is assigned to banks);
• the need to pay VAT in the amount of 20% when converting virtual metal into real metal. This tax “eats” all the profit received.

If you choose between bullion or OMS, which is more profitable?

Platinum bars (measured weighing from 1 g to 1 kg and standard - more than 1 kilogram) are considered property. Their acquisition is subject to a value added tax of 20%, subject to physical ownership. If you leave them in the bank or buy non-cash platinum, you do not need to pay VAT. Keep in mind that storing physical metal in a safe deposit box for several years will cost you a hefty fee.

When selling an ingot, coin or closing an account earlier than 3 years after purchasing metal of any form, you must pay 13% income tax on the profit received. Such investments will pay off in the short term if the price of platinum rises by at least 30%, which is unlikely.

The least expensive type of passive investment in platinum is the opening of compulsory medical insurance. Purchase and sale of metal in ounces is carried out at the current rate. There are no additional expenses in the form of taxes if you do not cash out gold in the first 3 years.

Pros and cons of investing in gold

Today we looked at several ways to invest money in gold, and now we understand the pros and cons of such investments:

• Gold is a reliable investment. Gold's long-term returns are unlikely to be particularly surprising to stock market investors and Bitcoin optimists who are accustomed to X's. On the other hand, the risks of investing in precious metal are noticeably lower and this is a big plus, because trends change slowly and are quite predictable.
• Constant growth of quotes. It may take 10-20 years, but the gold rate will one way or another update its historical maximum. There is no guarantee of this in stocks - any company can go bankrupt. The main reasons for the bullish trend in the 21st century: gradual inflation of the US dollar and regular (every 8-12 years, almost on schedule) economic crises.
• Crisis insurance. No matter what happens in the economy of the country or the planet, gold will be in price. The financial crisis stimulates demand for metal and allows investors to easily gain profit. In the event of a strong devaluation of the national currency, which most countries of the former USSR experienced more than once, the price of gold will rise (tied to the dollar) and cover the minus due to exchange rate losses.

Among the disadvantages of investing in gold, I would highlight:

• Long investment horizon. This is an unpleasant minus for those who are not ready to wait years for results. Investments in gold are a long-term story; the phases of the economic cycle change slowly. In addition, there are long periods of bear markets in which it is better not to touch gold at all or to buy it close to the cost of production. Of course, you can make money on short positions against a long-term bullish trend, but this is riskier.
• Reinvestment doesn't work - that's a minus. Unlike dividend stocks, gold does not generate any profit until the bullion is sold or the position on the exchange is closed. Thus, money does not multiply itself and you can only count on rising prices in the future. Which, however, is 99.9% guaranteed if you are patient.
• Additional expenses. Investing in gold implies a small minus from the possible profit in the form of commissions, taxes, spread. This situation, to a greater or lesser extent, applies to all investment instruments, but with precious metals it is more pronounced.

I was interested in studying the precious metals market, but this article is just the tip of the iceberg. There is also palladium, which has been adding plus 20-30% to investors’ capital for several years in a row. Silver has been paired with gold since ancient times, but it is often forgotten.

As for gold, this is an interesting long-term way of investing. It would hardly be a mistake to say: “If you don’t know what to do with your money, invest in gold,” because this is one of the most reliable assets. The question is how to do this. What do you think?

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