Gold Price in Russian Rubles (RUB) Today
The current gold price in Russian Rubles is ₽407 077,34 per troy ounce, or ₽13 087,83 per gram for 24-karat pure gold. This is calculated from the live XAUUSD spot price of $5,009.60 per ounce using the real-time RUB/USD exchange rate.
22K Gold / Gram
₽11 997,61
18K Gold / Gram
₽9 815,87
14K Gold / Gram
₽7 634,13
Gold Price in Russian Rubles — All Karats & Weights
| Weight | 24K (99.9%) | 22K (91.67%) | 18K (75.0%) | 14K (58.33%) |
|---|---|---|---|---|
| 1 Gram | ₽13 087,83 | ₽11 997,61 | ₽9 815,87 | ₽7 634,13 |
| 5 Grams | ₽65 439,15 | ₽59 988,07 | ₽49 079,36 | ₽38 170,66 |
| 10 Grams | ₽130 878,31 | ₽119 976,14 | ₽98 158,73 | ₽76 341,32 |
| 1 Troy Ounce | ₽407 077,34 | ₽373 167,80 | ₽305 308,00 | ₽237 448,21 |
| 50 Grams | ₽654 391,53 | ₽599 880,71 | ₽490 793,65 | ₽381 706,58 |
| 100 Grams | ₽1 308 783,06 | ₽1 199 761,43 | ₽981 587,29 | ₽763 413,16 |
| 1 Kilogram | ₽13 087 830,59 | ₽11 997 614,30 | ₽9 815 872,94 | ₽7 634 131,58 |
| 1 Tola (11.66g) | ₽152 604,10 | ₽139 892,18 | ₽114 453,08 | ₽89 013,97 |
Prices derived from the live XAUUSD spot rate and real-time exchange rates. 1 troy ounce = 31.1035 grams. Updated every 30 seconds.
Gold Market in Russia
Russia is the world's third-largest gold producer, mining approximately 330 tonnes annually from major deposits across Siberia, the Urals, and the Far East. The Bank of Russia has been one of the most aggressive central bank gold buyers in the 21st century, accumulating over 2,300 tonnes of reserves — the fifth-largest central bank gold holding globally — as part of a deliberate strategy to diversify away from US dollar reserves and reduce exposure to Western financial sanctions. Gold has taken on heightened significance for Russian investors following the 2022 sanctions regime, which restricted access to many Western financial instruments and froze approximately $300 billion in Russian foreign exchange reserves held abroad. In response, Russia eliminated VAT on gold purchases for individuals in March 2022, making physical gold more accessible as a savings vehicle for Russian citizens facing ruble volatility and limited investment alternatives. The Moscow Exchange (MOEX) continues to trade gold futures in rubles. Major Russian gold producers include Polyus (the world's fourth-largest gold miner by production), Polymetal, and Nordgold, operating massive mines like Olimpiada, Natalka, and Verninskoye. Russia's gold refining is handled by state-accredited refineries including Krastsvetmet and Novosibirsk Refinery.
How We Calculate Gold Price in RUB
The gold price in Russian Rubles is calculated using two live data feeds:
- The XAUUSD spot price — the international gold price per troy ounce in US dollars, sourced from the gold API and refreshed every 30 seconds.
- The RUB/USD exchange rate — sourced from open exchange rate data and cached for 10 minutes.
Gold per ounce (RUB) = XAUUSD spot price × RUB/USD rate
Gold per gram (RUB) = Gold per ounce (RUB) ÷ 31.1035
Example: $5009.60 × 81.2594 = ₽407 077,34 per ounce
Gold Tax & Duty in Russia
Since March 2022, individual purchases of gold bars in Russia are exempt from the 20% VAT — a significant policy shift that was previously one of the main barriers to physical gold investment in Russia. This exemption was introduced to provide citizens with a savings alternative amid sanctions and ruble volatility. Capital gains tax on gold sold by individuals within 3 years of purchase is taxed as personal income (NDFL) at 13% (or 15% for gains exceeding 5 million rubles). Gold held for more than 3 years is exempt from capital gains tax. Gold coins issued by the Bank of Russia (such as the St. George gold coin series) have always been VAT-exempt as monetary instruments. Unallocated metal accounts (OMS) at banks — which were previously the most popular gold investment vehicle — are subject to 13% income tax on gains when the account is closed.
Where to Buy Gold in Russia
The Moscow Exchange (MOEX) lists gold futures and spot contracts denominated in rubles, though liquidity has been affected by international sanctions. Sberbank, Russia's largest bank, offers gold bars, coins, and unallocated metal accounts (obezlichennye metallicheskie scheta, OMS) through its vast branch network. VTB Bank and Gazprombank also provide gold investment products. The Bank of Russia's St. George gold coin (999.9 purity, various sizes) is available through commercial banks. Physical gold bars from Russian refineries (Krastsvetmet in Krasnoyarsk, Novosibirsk Refinery, Prioksky Plant of Non-Ferrous Metals) are sold through bank branches — following the VAT removal, retail gold bar sales surged significantly. Russia's major gold mining companies are concentrated in eastern Siberia: Polyus operates the Olimpiada and Blagodatnoye mines in Krasnoyarsk Krai, while Polymetal (now Solidcore Resources) operates in Khabarovsk and Magadan. The Lena Goldfields region has been mined since the 19th century. Russia's gold is increasingly exported to China, the UAE, Turkey, and India rather than to Western markets due to sanctions restrictions, reshaping global gold trade flows.
Frequently Asked Questions
Is gold VAT-free in Russia?
Since March 2022, individuals buying gold bars in Russia are exempt from the 20% VAT (NDS). This was a landmark policy change — previously, the 20% VAT made physical gold bars uneconomical for investment. The exemption was introduced to provide Russian citizens with a savings alternative amid Western sanctions and ruble volatility. Gold coins from the Bank of Russia (like the St. George coin) have always been VAT-exempt. This policy has driven a significant increase in retail gold bar purchases through banks like Sberbank and VTB.
How much gold does Russia mine and hold in reserves?
Russia mines approximately 330 tonnes of gold annually, making it the world's third-largest producer (behind China and Australia). The Bank of Russia holds over 2,300 tonnes in reserves — the fifth-largest central bank gold holding globally. Russia has been a major buyer since 2014, acquiring gold to reduce dollar dependency. Following the 2022 freezing of $300 billion in foreign currency reserves held in Western institutions, gold reserves stored domestically took on even greater strategic importance as the only major reserve asset beyond sanctions reach.
What is a metal account (OMS) in Russia?
An OMS (obezlichenny metallichesky schet, or unallocated metal account) is a gold investment product offered by Russian banks where your balance is denominated in grams of gold rather than rubles. You can buy and sell gold at the bank's quoted price without taking physical delivery. OMS accounts are convenient but carry two risks: they are not covered by the deposit insurance system (unlike ruble deposits), and gains are taxed at 13% NDFL. Since the 2022 VAT removal on physical bars, some investors have shifted from OMS to physical gold.
How have sanctions affected Russia's gold market?
Western sanctions in 2022 reshaped Russia's gold market significantly. The LBMA suspended Russian refinery accreditation, redirecting Russian gold exports from London to alternative buyers in China, UAE, Turkey, and India. The VAT removal on domestic gold purchases created a surge in retail demand. International sanctions on Russian banks complicated OMS account operations. However, domestic gold trading and mining continue normally. Russia's gold increasingly flows through non-Western trading routes, contributing to the emergence of alternative gold pricing and settlement mechanisms outside the London-New York axis.