Siluanov announced the strengthening of the Ministry of Finance's control over gold mining

The Ministry of Finance will strengthen control over gold mining through an electronic system. This was announced on July 9 by Russian Finance Minister Anton Siluanov during a speech at the State Duma of the Russian Federation.

"We have introduced an electronic traceability system for each of the gold miners' operations. Now we are additionally strengthening control over the very production of enterprises that carry out this type of activity," he said.

According to Siluanov, there will also be monitoring of export operations. At the same time, he clarified that currently no measures are required to nationalize gold mining, but surveillance in this industry should be provided.

Eternal value: the world's central banks are hastily buying gold before imposing duties

Nevertheless, the return of currency pegging to precious metals is not yet expected.

On June 27, Ilya Sivoplyas, head of the WhiteBird crypto trading department, said that gold prices could reach $3.6–4 thousand per ounce in the next 6-12 months. He clarified that any gold price corrections should be considered as an opportunity to enter the market, and not as a cause for concern.