That's the way to sell it: Russians will simplify the sale of gold bars

Gold refining plants will start issuing electronic certificates for bullion. This initiative was made by the Ministry of Finance (Izvestia has the document). This will make it easier for Russians to sell precious metals to earn income from investments. Citizens donate about 8-12 tons of gold to banks or for purchase annually, experts say. However, buyers often lose the document, which complicates the sale of the asset. In this case, credit institutions require an expensive examination, which people lose money on. Pawnshops evaluate precious metals without a certificate at the scrap price. How, at the same time, the authorities intend to tighten control over the turnover of gold — in the material of Izvestia.

In what form is the ingot certificate issued?

It will become easier for Russians to invest in physical gold. The authorities plan to oblige refineries (they purify precious metals) to issue electronic certificates for ingots. Such a draft resolution was prepared by the Ministry of Finance (Izvestia has it).

Nowadays, a certificate confirming the purity of a precious metal is often issued only in paper form. Buyers sometimes lose the document, which complicates the sale of the asset, according to the explanatory documents.

Banks refuse to accept such bars or require expensive expertise. In this case, all that remains is a purchase or a pawnshop, where the metal will be valued at the price of scrap rather than an investment product.

— It's not so much about the replacement, as about the parallel use of two possible formats. Electronic document management makes it easier to exchange data, sell bullion, and reduce the risk of repeating mistakes," said Sofya Lukinova, Head of the Legal Department at VMT Consult.

It also increases transparency for regulatory and supervisory authorities, as each document has its own unique number. The innovation will definitely make life difficult for participants in the shadow turnover of precious metals, the expert is sure. As previously reported by Izvestia, the volume of the illegal gold market in the Russian Federation is estimated at 20%.

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For companies, this means, first of all, greater mobility and flexibility, as well as lower costs for the production and logistics of special forms, for the delivery of paper documents to the customer and for archival storage, said Sofya Lukinova. However, in the short term, additional costs are still inevitable: for the integration of the state GIS system with the software of companies and for employee training, she concluded.

The draft resolution also proposes to strengthen control over refining plants. Now, information on the actual balances of precious metals based on the results of their inventory as of January 1, 2026 (based on the results of last year) will be submitted by organizations to the special GIS DMDK system.

"This will ensure control over the legality and effectiveness of the use of metals, accounting for chemical mass, as well as compliance with refining and production requirements," the Finance Ministry told Izvestia.

The resolution is to come into force on September 1 of this year.

Will it become more profitable to invest in precious metals

Among the advantages of an electronic certificate are the convenience of storage (it is impossible to lose or spoil), the ease of determining the authenticity of the precious metal, and speeding up the transaction, said Svetlana Frumina, Head of the Department of Global Financial Markets and Fintech at Plekhanov Russian University of Economics.

The new measure will also reduce administrative costs for all market participants, the expert expects. However, the operation will still require appropriate equipment, qualified staff, and Internet access. In addition, like any electronic operation, the issuance of electronic certificates can be associated with the risk of hacker attacks, Svetlana Frumina noted.

However, this measure may increase the attractiveness of investments in bullion, the expert believes. The volume of their return sales is now estimated at 8-12 tons per year, said Vladimir Chernov, analyst at Freedom Finance Global.

— If prices remain high and a possible correction, it may rise to 12-15 tons, as some investors will take profits. The transition to electronic certificates will increase the liquidity of the market and allow for the inclusion in circulation of some of the metal that could fall out due to the loss of documents," the expert explained.

This is done for the convenience of the citizens themselves, added Anna Kokoreva, an expert on the stock market at BCS World of Investments.

— The paper certificate can really be lost, the digital version is more reliable and at hand at any time. The initiative is correct and timely, but it will not have a tangible impact on demand," she believes.

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Last year, Russians bought about 50 tons of gold. In 2026, the baseline scenario is 55-60 tons, says Vladimir Chernov from Freedom Finance Global.

— The demand for gold will be formed under the influence of multidirectional factors. The market is supported by the high price of precious metals and geopolitics, as well as strong demand from global Central Banks," he said.

Within Russia, the main role is played by the ruble exchange rate and the level of interest rates. With a key rate above 15%, some of the funds remain in bank deposits, but with its decline, interest in gold is growing, Vladimir Chernov noted. At the same time, there is a pressure factor from the supply side. In particular, it is being discussed that Turkey may use gold more actively to support the lira exchange rate from depreciation, which potentially increases supply in the market and limits price growth, the expert concluded.