Today, banks offer customers to invest in gold in several ways. The first is the purchase of bullion, the second is the opening of a metal account. We will discuss them further.
Types
There are two types of metal accounts. If the client wants to purchase an ingot with certain characteristics (type of metal, weight, sample), then he draws up an account for safekeeping. In this case, an operation for the sale of metal is executed, the document indicates all its individual characteristics (weight, sample, etc.), but the ingot itself is not taken out of the bank vault. The presence of any damage on the packaging or on the metal itself dramatically reduces its cost. In addition, when buying and selling an ingot, its owner will have to pay VAT and personal income tax.
Investors for whom the presence of an ingot does not matter draw up a depersonalized metal account. In this case, the purchase of metal is executed without individual characteristics (samples, serial number, etc.). In fact, this is a contribution to the bank, which is issued in the form of a certificate. Investors, as it were, convert the metal into cash and wait until the price starts to rise.
Features
An account can be opened in silver, palladium, gold or platinum. The price depends on the compulsory medical insurance quotation on the day of the transaction. Banks buy and sell metal for Russian rubles. To complete the transaction, you need to provide a passport and pay the cost of the metal. No additional fees are provided. A prerequisite is that the buyer has an account in Russian rubles with the same bank.
Benefits of compulsory medical insurance
- When making a deal, there is no need to pay VAT. However, when selling metal, you will have to pay 13% of personal income tax.
- The buyer can sell the metal at any time. When making a decision, he focuses only on the compulsory medical insurance quotes.
- The buyer has a real chance to get a stable income when the price increases.
- Deposits in CHIs are a way to diversify savings.
- There is no need to transport and store metal.
Interest
The owner of the deposit can make a profit only if the price of the metal in the market increases and the quotations of precious metals grow with it. In this case, we are talking about an account without interest.
MHI can be considered as a deposit with a limited shelf life. The owner of such an account makes a profit in case of a significant change in the quotations of precious metals. In this case, profit means monthly accrual of interest on a ruble account opened with a bank.
Interest on such deposits is always less than on deposits in foreign currency. That is, you can earn only when the value of the metal in the market changes.
Sberbank and other financial institutions usually set quotes OMS once a day. There is an opinion that metal is constantly growing in price. In the long run, bullion prices are indeed rising. But banks regulate MHI quotes on their own. Therefore, the investor can both profit and lose.
Training
Before buying metal, you need to analyze the gold quotes of the mandatory medical insurance, the economic situation of the country and the world as a whole. During the crisis period, making money in bank warehouses, including metal ones, will fail. The difference between the purchase and sale prices (spread) is greatly increasing.
When money depreciates, the value of metals increases. At such moments, people just try to acquire compulsory medical insurance. Increased demand contributes to higher prices. That is, bank quotes for silver by compulsory medical insurance become overestimated. Therefore, investing in metals should be during a period of calm or before crises. According to statistics, every 2-3 years there are economic crises. At this time, the cost of the metal increases sharply.
How prices are formed
The main factor in the change in gold in the compulsory medical insurance is the supply-demand ratio. As mentioned earlier, demand growth will outstrip supply during the economic crisis. Precious metals are a reliable financial instrument, especially when it comes to gold. In the pre-holiday period, the demand for gold jewelry is increasing. Therefore, from October to February, metal prices are rising. Also do not forget about manufacturing enterprises. Gold is a great conductor. It is used in the fusion of contacts, in computer chips, etc.
Profitability from compulsory medical insurance depends on market prices for metal. That is, the investor can both lose his savings and increase them. If you look at the graph of gold prices, you will notice that over 11 years the cost of 1 gram of gold has increased 11 times. But over a longer period of time, there are annual price declines after long rises. The market is cyclical.
Perhaps the only drawback of anonymized accounts is that these deposits are not insured. That is, in the event of a bankruptcy of a banking institution, the investor will not be able to return his funds.
How and when to open compulsory medical insurance?
Depending on what quotations of precious metals operate on the market, MHI can be replenished, closed or made transfers between similar accounts. If the client is not satisfied with the profitability of the deposit in one financial institution, he can open an account in another bank and transfer his deposit there. There are no requirements for a minimum balance on such accounts and no interest accrued on the balance. All operations are carried out without the use of bullion and at bank rates. Deposits are not limited in duration and are not included in the deposit protection system. But this does not affect the profitability of transactions.
Before opening an account, you should familiarize yourself with the contract. First of all, you need to find out the conditions for paying interest. Banks usually pay interest on deposits in the form of metal. Putting a kilogram of gold at 2% per annum, the client will receive 20 grams of metal in the form of income. If we are talking about compulsory medical insurance, the interest rate is converted into cash at the rate of compulsory medical insurance.
You should also study the conditions for returning the deposit. Small bars are more expensive due to the high cost of production. If the client invests several bars, then you should make sure that after the contract expires he will receive the same bars back, and not one large bar of metal. The contract should contain the wording that the payment is made “in bars of XX grams in the amount of YY pieces”. The cost of small ingots, in view of the costs of their manufacture, is always much more than one large bar of metal.
To know the current prices is quite simple. Twice a day, they are updated by the London Stock Exchange. The same information is broadcast on radio and television. Based on international metal rates, the value is formed by the Central banks of all countries. After that, Sberbank and other financial institutions of the country form and publish quotes for mandatory medical insurance.