VTB Bank sells 55.5 tns of gold to individuals since March 2022

MOSCOW, Dec 11 (PRIME) -- Russia’s second largest bank VTB has sold 55.5 tonnes of gold to individuals since March 2022, the bank said in a statement on Monday.

The sales of gold increased by 21% on the month to 3.7 tonnes in November.

According to Yevgeny Beresnev, deputy head of sales department of Private Banking and Privilege investment products, customer demand for gold accelerated in October and November largely influenced by seasonal factors, as well as by a buy-back option launched by VTB this summer, which allows customers to take profit by selling gold back to the bank.

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