Russians warned of a likely rise in the cost of gold jewelry

Gold jewelry in Russia can rise in price in September by 30% compared to the beginning of the year, warn the Guild of jewellers of Russia.

the Trend associated with rising prices for the precious metal on world markets, reports the newspaper “Izvestia”.

However, industry experts believe that higher prices will occur gradually, according as the old range will be replaced with a new one.

At the same time, analysts complain, the increased cost may deter small category of customers jewelry.

Recall that in may it was reported that the sale of jewelry in Russia because of the crisis caused by the pandemic coronavirus infection COVID-19, as well as the devaluation of the ruble in February—March, fell by 50-70%, manufacture of products, as a consequence, decreased by 30-50%.

the Main reason for this effect is the shift in consumer demand during a pandemic to the Essentials. Another factor is the rising cost of raw materials for the production of jewelry due to the increased exchange rate: in this context, the cost of finished goods increased on average by 20%, explained TASS in the Ministry of industry and trade of the Russian Federation.

Earlier, in late March, the Director General of the Association “Guild of jewellers of Russia” Eduard Utkin did not exclude that in connection with the devaluation of the ruble and the pandemic COVID-19 jewelry market of the country will see reduced staff at 75-80%. How to recognize the Utkin, to the global deterioration of the situation none of the participants in the industry was not ready. However, he drew attention to the fact that we offer the then Ministry of industry and trade of the Russian Federation semi-annual vacation to service the Bank loans and deferred payment of VAT is likely to bring significant positive effect of the jewelry industry.

“Deferred tax — a postponement of bankruptcy, a pending death,” — said the expert, because there is no guarantee that “revenue after some time.” In his view, nmust declare the holidays for all types of taxes at least until the situation stabilizes.

let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19.

on 2 June Prime Minister Mikhail Mishustin reported on the nationwide state plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will amount to about 5 trillion roubles. June 19, Putin was sent a revised draft of the national plan.

Stories about how you tried to get help from the Russian state in terms of coronaries and what came of it, email it to