Gold Price in Russia Today

KmalServico's Russia page is built around grams and Russian rubles (RUB), matching how gold bars and coins are typically quoted domestically. Physical gold has taken on a distinct role in the market since 2022, as sanctions-related uncertainty pushed both individual and institutional demand toward gold as a store of value.

Retail demand for physical gold in Russia has risen sharply since 2022, with individuals estimated to have accumulated roughly 300 tonnes over that period -- more than the official gold reserves held by Spain or Austria. That accumulation reflects gold's role as a store of value amid currency and sanctions-related uncertainty rather than jewellery demand specifically.

As of 2026, individuals leaving Russia are limited to taking no more than 100 grams of gold out of the country, part of a broader set of capital-control measures. That cap is a practical constraint for anyone planning to move gold bought domestically across a border -- it doesn't affect a purchase kept within the country, but it matters before buying with cross-border travel in mind.

Individual purchases of physical gold bars have been exempt from VAT since March 2022, reversing the 20% rate that applied before -- a policy change intended to encourage rubles moving into gold. Russia's general VAT rate was separately raised to 22% under a 2026 budget measure, but that's the country's broad consumption tax rate, not a reversal of the gold-specific bar exemption, which remains in place.