The scale of Russian people hoarding gold is comparable to the national reserves of Spain.

A study shows that over the past four years, gold has become one of the most popular savings methods in Russia, and the total amount of gold purchased by consumers in the country is expected to reach the national reserves level of Spain or Austria. The quantitative research startup Al Banyan Tree Research predicts that the retail purchase of Russian gold bars, coins, and gold jewelry will reach 62.2 tons this year.