Precious metals

Nowadays, investments in precious metals have become a common way of taking care of the stability of one's own well-being and providing protection from sudden currency rates fluctuations and inflation. Financial experts recommend investing 5-15% of one's finances in precious metals, which means to be relatively conservative allocation of investments. The most popular and more actively traded precious metal is gold, however our Customers also choose to invest in silver, platinum and palladium.

Purchasing precious metals is a smart step, since:

  • precious metals, including gold, historically have been stable investments;
  • in times of political or economic instability the value of precious metals always goes up;
  • it is a good way to diversify your savings portfolio and lower the total investment risk;
  • it is easy to use any precious metal as collateral or a financial pledge;
  • you can quickly sell precious metals or convert them into another currency.

RIB offers an opportunity to purchase precious metals in several ways:

  • as financial instruments;
  • as precious metals bars, which we offer to keep in the bank for extra security;
  • as additional currency (XAU, XAG, XPD, XPT) in your current account.

We offer our Customers to buy gold of 999.9 purity in 20, 50, 100 gramsminted or 250, 500, 1000 grams cast gold bars manufactured by the mint of Argor-Heraeus SA in Switzerland  . Only the highest quality precious metals available, which are in compliance with standards and requirements set out by LBMA (London Bullion Market Association) and LPPM (London Platinum and Palladium Market Association).

You can buy precious metals in the bank, at 2 J. Alunana Street, in Riga. To be able to carry out transactions with gold (XAU), silver (XAG), palladium (XPD) or platinum (XPT) or invest in precious metals as financial instruments, you have to open a current account and/or financial instrument account, which will give you an access to a wider spectrum of transactions with precious metals.

It is important to know that:

  • according to laws of the Republic of Latvia, all precious metals kept in current account are protected, and Customers are guaranteed to receive a compensation up to EUR 100 000;
  • gold bars kept in the bank are the property of Customer and are not exposed to bank risks;
  • transactions with investment gold (incl. gold bars offered by RIB) are not taxable with VAT across the European Union and, respectively, in Latvia.

You can get information on the commission fees for transactions with precious metals in the Price List of Financial Instrument Services.

If you want to find out the actual price of precious metals for any particular day or get answers to your questions regarding transactions with precious metals, please call our Customer Info Service at 67 359 000 or send us an e-mail to bank@ribbank.com

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