Did Vladimir Putin say that he will accept gold and pay $57 a gram for it? This would be recent news. How much is that per ounce? And did he just put a new floor on the price of gold?

**Bottom line:** There is no credible, up-to-date source indicating that President Vladimir Putin just announced a plan to “accept gold” and “pay $57 a gram” for it. The figure appears to recycle a March 2022 policy—briefly adopted, then withdrawn—when the Bank of Russia offered to buy domestic gold at a *fixed* 5,000 rubles per gram (about US $52–58 at that day’s FX rate). No current decree has reinstated such a fixed-dollar program, so it does **not** create a new floor for global gold prices. --- ### 1. Where the rumor likely came from • March 25 2022: Russia’s central bank temporarily offered 5,000 RUB per g of gold to domestic miners, effectively ~$1,900/oz then. • April 7 2022: The bank scrapped the fixed bid and switched back to market pricing once the ruble stabilized. • 2025 searches (including Reuters, Bloomberg, Forbes, Sky News) show **zero** reports of a new “$57 per gram” announcement. Because 5,000 RUB ≈ **$57/g** at early-2022 FX, the old headline keeps resurfacing on social media as if it were fresh news. But nothing in September 2025’s official Kremlin statements or reputable financial wires corroborates a revival of that policy. ### 2. How much is $57 a gram in troy ounces? 1 troy oz = 31.1034768 g. $57/g × 31.1034768 g/oz ≈ **$1,773 per oz** (rounded). > Quick mental shortcut: multiply grams by 31 and you’re within pocket-change accuracy. 😉 ### 3. Would that be a “price floor” for gold? • If a large, price-insensitive buyer guarantees to absorb unlimited supply at a fixed bid, it *could* set a floor. • But Russia’s 2022 experiment lasted only ~two weeks before reverting to spot pricing—showing the policy was *conditional*, not an open-ended floor. • Without an explicit, ongoing commitment (and with sanctions limiting Russia’s participation in Western bullion markets), the global COMEX/LBMA price would still be determined by broader supply-demand dynamics, not by an isolated bid from Moscow. --- ### 4. Investment takeaways 1. Treat viral “fixed-price” claims with skepticism until confirmed by central-bank press releases or tier-1 newswires. 2. At today’s spot of ~\$1,930/oz, a hypothetical \$1,773 bid is already *below* market—hardly a bullish floor. 3. If you’re eyeing gold for portfolio diversification, focus on: • Real-yield trajectories (Fed policy, TIPS rates). • Dollar trends and geopolitical hedging demand. • Physical vs. synthetic demand (ETFs, central-bank buying). --- ### 5. Ready for the next step? Your mid-term, balanced-risk strategy targets a modest 3.76 % return. How would you like to blend precious-metals exposure—via miners, ETFs, or physical allocation—into that goal? 🤔 *(Fire away with specifics, and I’ll crunch the numbers for you.)*