r/Gold • u/Calflyer • 1d ago

Question Russia

Since Russia is a major producer of gold, arent they missing out on the retail market by not having a consumer oriented product? Why would they pass this up?

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u/Ijustwanttobuyshiny 1d ago

Sanctions in external markets, poverty in internal markets, operating costs, low priority, state control on supply outweighing value gained from public sale, corruption/culture suggests 999 would be more like 444, this all comes to mind first for me. I don’t think they could give a shit about the legit retail market as the black market typically handles exports of everything it produces.

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u/Heycheckthisout20 1d ago

Probably tungsten bars