European media on Russian gold exports: This has never happened in history


By the end of the second quarter of 2020, Moscow earned more money from exporting gold than from selling natural gas. This is a real sensation, since this has never happened in the entire history of modern Russia, writes the German newspaper Die Welt.


For the first quarter, Gazprom reported a significant decrease in profit. This was triggered by the COVID-19 pandemic, which has affected commodity markets. However, the report for the second quarter shows a real chaos on a planetary scale, as investors seek to save their savings in gold. Now gold is worth $ 1921 per ounce (about 30 grams).

In April-May 2020, Russia exported 65,4 tons of precious metal worth $ 3,6 billion (about € 3,1 billion). At the same time, the profit from gas exports amounted to $ 2,4 billion (about € 2,1 billion). There is no final data for the second quarter yet, but information from the Russian Central Bank indicates that gas exports brought the country $ 3,5 billion (€ 3,0 billion), i.e. turned out to be less than gold for the two months indicated.

Gazprom was really out of luck. The Russian ruble has depreciated, and most of the company's debt obligations must be fulfilled in foreign currency. Gas consumption and prices in Europe and China fell sharply, respectively, the company's turnover collapsed. For the first time since autumn 2015, Gazprom incurred losses. At the same time, experts from the investment company BCS Global Market Research believe that in the third quarter the position of Gazprom will be “terrible”.

In turn, the oligarch Suleiman Kerimov, the main shareholder of Polyus-Zoloto (78,6% of shares), the largest gold producer in Russia, was very lucky. In the second quarter, his fortune grew by approximately $ 8,8 billion and reached $ 18,8 billion. In the Russian Forbes list, he jumped from 13th place to 7th, for the first time in 12 years hitting the top ten.

This was partially influenced by the actions of the Russian Central Bank, which stopped buying gold from April 1 and allowed direct export sales. It is not surprising that 80% of the precious metal ended up in London, where the largest trading and storage sites for physical gold are located. Gazprom can only dream of such a demand. But in any case, by the end of 2020, most likely, gas and oil will remain the main source of income for Russia, summed up the European media.
  • Photos used: Vadim Smalkov / wikimedia.org
19 comments
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  1. waha36 Offline waha36
    waha36 (Eugene) 30 July 2020 13: 11
    +1
    For an ordinary citizen, this is neither cold nor hot.
    1. Miron_1 Offline Miron_1
      Miron_1 (Miron 1) 9 August 2020 01: 24
      +1
      Quote: wahxnumx
      For an ordinary citizen, this is neither cold nor hot.

      For an ordinary citizen of Ukraine, yes :)
  2. Sapsan136 Offline Sapsan136
    Sapsan136 (Sapsan136) 30 July 2020 13: 14
    -3
    Russia would have won a lot more by introducing the gold ruble, instead of selling gold abroad, for American candy wrappers.
  3. Bulanov Offline Bulanov
    Bulanov (Vladimir) 30 July 2020 13: 24
    +6
    When Russia sells its gold, America will bring down the dollar, and this is where it goes. The Yankees will refer to revolution and force majeure. And then what should Russia do with this green paper? All Russian majors will instantly turn into "farce majors".
  4. Alexzn Offline Alexzn
    Alexzn (Alexander) 30 July 2020 14: 03
    0
    As soon as they write about gold, the complete economic illiteracy of both those who write and those who read emerges. In a short note, we managed to mix together the concept of PROFIT and INCOME. They managed to report that the sale of gold by Russia by 3 billion made the gold miner 10 billion richer. The readers, as always, noted delirium about the gold ruble ...
    1. Oyo Sarkazmi Offline Oyo Sarkazmi
      Oyo Sarkazmi (Oyo Sarkazmi) 30 July 2020 19: 38
      +3
      Quote: AlexZN
      They managed to report that the sale of gold by Russia for 3 billion made the gold miner 10 billion richer.

      Nothing strange. The stock jumped, the gold miner “got rich.
      After all, Bezos, the owner of Amazon, having goods worth $ 20 million, has an annual turnover of $ 2 billion, and is "rich" by $ 100 billion. Five thousand times more than he has in real life values. Hamsters believe in stocks! Until they try to sell ...
  5. gorenina91 Offline gorenina91
    gorenina91 (Irina) 30 July 2020 16: 25
    0
    oligarch Suleiman Kerimov, the main shareholder of Polyus-Zoloto (78,6% of shares), the largest gold producer in Russia, was very lucky. In the second quarter, his fortune increased by approximately $ 8,8 billion and reached $ 18,8 billion. In the Russian Forbes list, he "jumped" from 13th place to 7th, for the first time in 12 years hitting the top ten.

    - What a great joy for all of Russia the Great ... - now you can jump and scream with delight ...
    - Personally, I'm already in the subject:

    Why it is dangerous for Russia to become a major exporter of gold

    - wrote that

    today Russian gold thus "supports" (saves) ... the dollar ...
    - And from the outside it looks like this ... - Russia itself allegedly "hand over" its gold; and buys paper dollars ... - That's all ...
    1. Oyo Sarkazmi Offline Oyo Sarkazmi
      Oyo Sarkazmi (Oyo Sarkazmi) 30 July 2020 19: 43
      -3
      Quote: gorenina91
      - wrote that

      In vain I wrote. The miner sells his gold. If he does not sell, he will sit hungry.
      Apples are ripening in your garden. 100 tons. Price per kilogram - 50 rubles. You can be proud that you have apples worth 5 million rubles. But you have no rubles, only apples. Only by selling them, you will receive money for your Cayenne ...
      It doesn't matter who buys - the Russian government, the Chinese government, Indian jewelers or the Papuans of New Guinea. The miner doesn't care.
      1. Vladimir Tuzakov (Vladimir Tuzakov) 30 July 2020 20: 21
        +4
        Here it is somewhat different, when demand grows, the goods are held back in order to sell them at a higher price. The market is clearly sliding down, dollars are already being printed in TRILLIONS and are thrown away at zero interest ... With such injections, the dollar will clearly fall ... ... Hold 2000 tons for six months, and the profit is 66% higher in only six months ... Who is there for the bankers in the Russian Federation, it seems, is in a hurry to sell gold and drive off before the markets collapse ...
        1. Oyo Sarkazmi Offline Oyo Sarkazmi
          Oyo Sarkazmi (Oyo Sarkazmi) 30 July 2020 20: 28
          -1
          Quote: Vladimir Tuzakov
          Here it is somewhat different, when demand grows, the goods are held back in order to sell them at a higher price.

          Gold is not an essential commodity. In a year, it will probably cost 10 thousand dollars. The iPhone alone, by that time, will cost $ 100.
          If you get into a time machine in 1980, to your fellow mechanics in the workshop, and say that "three axes" (port 777) will cost 100 rubles - they would hang themselves right away, forgetting to ask what the salary will be in the future.
          1. Vladimir Tuzakov (Vladimir Tuzakov) 30 July 2020 20: 36
            +3
            Talk about crises, today's next will be the most terrible in all respects ...... If your salary becomes a million dollars a month, you still buy an ounce of gold with them, as before with a salary of $ 1500 a month. The basis is that gold in crises is relatively NOT DEVALUED when everything else is devalued, therefore it has increased demand ... This is a way to preserve accumulated wealth. Do not confuse different concepts ...
    2. Cynic's Corner Offline Cynic's Corner
      Cynic's Corner (Vladimir Seredkin) 4 August 2020 13: 02
      0
      He does everything right - he sells gold at the peak of the price, he sold it - he paid for the production + paid taxes, because the operation goes through the commercial banks of the Russian Federation (Otkritie and Sovcombank) and is in the field of Russian taxation.
  6. Alexzn Offline Alexzn
    Alexzn (Alexander) 30 July 2020 20: 06
    -2
    Quote: Oyo Sarkazmi
    Quote: AlexZN
    They managed to report that the sale of gold by Russia for 3 billion made the gold miner 10 billion richer.

    Nothing strange. The stock jumped, the gold miner “got rich.
    After all, Bezos, the owner of Amazon, having goods worth $ 20 million, has an annual turnover of $ 2 billion, and is "rich" by $ 100 billion. Five thousand times more than he has in real life values. Hamsters believe in stocks! Until they try to sell ...

    Not serious. Gold mining is not more than 10% of its business, and the basis is NEFT and GAZ (Nafta Moskva - the successor to the Soviet monopoly Soyuznefteexport). About Amazon - not serious! Annual turnover of 240 billion and 3 billion of NET profits, plus tens of billions of dollars of property. In today's world, an object that brings in $ 3 costs $ 100 on the market, that's how it works.
  7. Alexzn Offline Alexzn
    Alexzn (Alexander) 30 July 2020 20: 07
    -4
    Quote: Oyo Sarkazmi
    Quote: gorenina91
    - wrote that

    In vain I wrote. The miner sells his gold. If he does not sell, he will sit hungry. Apples are ripening in your garden. 100 tons. Price per kilogram - 50 rubles. You can be proud that you have apples worth 5 million rubles. But you have no rubles, only apples. Only by selling them, you will receive money for your Cayenne ...
    It doesn't matter who buys - the Russian government, the Chinese government, Indian jewelers or the Papuans of New Guinea. The miner doesn't care.

    And here is a clear and reasonable example.
  8. Alexzn Offline Alexzn
    Alexzn (Alexander) 30 July 2020 21: 40
    -2
    Quote: Vladimir Tuzakov
    Here it is somewhat different, when demand grows, the goods are held back in order to sell them at a higher price. The market is clearly sliding down, dollars are already being printed in TRILLIONS and are thrown away at zero interest ... With such injections, the dollar will clearly fall ... ... Hold those 2000 tons for six months, and the profit is 66% higher in only six months ... Who is there for the bankers in the Russian Federation, it seems, is in a hurry to sell gold and drive off before the markets collapse ...

    A small clarification - the rise in the price of gold is largely a consequence of the printing of those very trillions of dollars. Scheme - dollars are depreciating, respectively, the price of gold is growing, well, and the price is rising as a reserve resource. The crisis will pass, the demand for gold will fall and it will fall in price, the demand for money (dollars) will increase and the rate will creep up. Under such a scheme, it is profitable to sell at the peak.
    1. Dear sofa expert. 31 July 2020 12: 18
      +2
      the demand for money (dollars) will increase and the rate will creep up. Under such a scheme, it is profitable to sell at the peak.

      If the dollar holds. And if (and apparently) still not? You will wait for the peak, and the peak will be replaced by a "hyperpeak".
      You need to sell gold right now. When it is already quite expensive, and the dollar has not collapsed yet. When it collapses, it will be too late. And today you can do a lot of really useful things for this dollar. But at least get some new gold, if it’s so sorry to part with it.
      1. Vladimir Tuzakov (Vladimir Tuzakov) 2 August 2020 18: 40
        0
        According to your scheme, the Rothschilds and others got rich, - on insider information. If you have such accurate insider information, then go for it, you will enter the circle of billionaires, however, a trifle, you need to be a Jew. There, only their own people provide such information from the FRS and other financial ministries ...
        1. Satellite Offline Satellite
          Satellite (Satellite) 2 August 2020 19: 25
          -1
          If you have such accurate inside information, then go for it,

          Is this an article about me? Those who sell gold, apparently, have all the necessary information, and in general, they know what they are doing. This is how I see it, at least.
  9. Cynic's Corner Offline Cynic's Corner
    Cynic's Corner (Vladimir Seredkin) 4 August 2020 12: 59
    -1
    Messrs. Scribblers forget to point out that the gold sold is not from the State Reserve of the Russian Federation by the state, but is sold by private owners - gold miners are now exporting precious metal through banks, and not themselves, since they are waiting for the government's decision on the possibility of obtaining a general export license in exchange for current one-time permits. Polyus, YuzhUralZoloto, Polymetal are selling their shares remaining after the sale of the mined gold to the state to commercial banks, and they are already selling them to the same England, as far as I read, Otkritie and Sovcombank have been trading in gold.
    So, gentlemen, whimpers and vsepalschiki in the comments go past the box office.
    Source here:

    https://www.rbc.ru/economics/28/02/2020/5e57904a9a79479d2346177a