The largest commodity platform in Russia has opened trading for investment gold in ingots. The new tool allows banks and refineries to buy and sell the precious metal in standard and measured form.
The St. Petersburg Exchange began holding sessions on trading physical gold. The decision was made after concluding a partnership agreement with Goznak within the framework of SPIEF. The result of the collaboration was the launch of a new market tool for professional participants.
The Moscow Mint has been approved as the basis for the supply of bullion under exchange contracts. Investors have access to four categories of bars of different weights to diversify their investments. Standard denominations include 20, 50, 100 and 1000 grams, which allows you to flexibly build your investment portfolio.
The trading platform is aimed primarily at legal entities – banking institutions and refineries. However, in the future, the possibility of admitting private investors to the market is being considered, which will expand opportunities for saving savings.
The first transaction on the new market has already taken place. The cost of a kilogram of gold reached 11.035 million rubles. Deputy Minister of Finance Alexey Moiseev noted the importance of developing the domestic precious metals market. According to him, up to a quarter of the annual volume of gold production in Russia, which is about 100 tons, could pass through domestic exchanges.
The launch of physical gold trading on the St. Petersburg Exchange creates new opportunities for institutional investors. The development of this area strengthens the country’s financial system and offers professional participants a reliable tool for investing in precious metals.
The material was prepared with the support of the Russian Ministry of Education and Science as part of the Decade of Science and Technology.
Source: @nerzhavey
