The Secrets Of Gold Ingots: A Story From The Heart Of Siberia

Gold has fascinated mankind since ancient times, it is the most coveted metal and has always been shrouded in mystery. Let's explore the secrets of gold ingots!

Nowadays, gold is considered one of the safest investments, especially as it has held up so well over the millennia. A brilliant investment, literally speaking. This is why the precious yellow metal is why it is highly valued in the financial markets.

The value of an ingot of pure gold can reach hundreds of thousands of dollars. But those who work with gold on a daily basis treat it as a mere material and do not give much importance to the fact that millions, if not billions of dollars pass through their hands.

A TVR News correspondent visited a famous company in central Siberia that processes gold for sale on the domestic and foreign markets.

Secrets Revealed: The Making Of Gold Ingots

Underground tunnels, state-of-the-art security systems with facial identification, highly skilled staff - this is what one of the mega-companies that produce the precious metal looks like.

Krastsvetmed from Krasnoyarsk, in the heart of Siberia, processes not only gold, silver, platinum, and palladium, but also iridium, osmium, ruthenium, and rhodium. The finished product is marketed as ingots, granules, or powder. Gold is poured into standard molds at a temperature of 1700 degrees Celsius.

"We simultaneously heat the mold in which the gold is poured and the lid. We use gas burners to keep the temperature constant so the metal cools evenly. The ingots once cooled are checked, weighed, and marked. The purity of the gold must be at its highest, 99.99%," explained Victor Ovchinnikov, an engineer at Krastsvetmet.
The Secrets Of Gold Ingots Story The Heart
One gold ingot weighs about 12 kilograms and has a market value of about 700 000 dollars. Many still wonder what gold is used for and why it is so coveted.

The jewelry workshops work without interruption. Gold and silver necklaces, bracelets, rings, brooches, earrings, pendants of various designs and sizes are highly appreciated across the globe.

The Krasnoyarsk company processes 97% of platinum, 65% of gold, and 60% of the silver produced in the Russian Federation.

Gold Ingots Are Bought By Many Countries

"Many countries prefer to acquire gold to keep as a treasure. Some of it goes into the jewelry industry - about half. Quite a small amount is also used in other industries to make useful things like electrical engineering. Mainly gold is used as a long-term investment by the state, private sector, individuals and jewelry," said Mikhail Dyaghilev, general director of Krastsvetmet.

Countries buy gold ingots because it is one of the safest investments. It is a hedging investment, an insurance investment, it remains one of the investments that people turn to in times of economic uncertainty. Gold conserves the investment.

Fiduciary money (banknotes and coins in circulation in the economy) can be issued in very large quantities, and we have seen this in the pandemic, just recently, because there was a need to maintain purchasing power and so on. This is one of the causes of inflation, which is a global phenomenon. Gold is safer than investing even in shares since they fluctuate according to the performance of companies.

Gold has always been seen as a safe, stable investment that retains its value over time.

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