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Published on Gold Anti-Trust Action Committee (http://gata.org)

Russian central bank may boost gold trading on Moscow exchange

By cpowell
Created 2017-10-11 13:58

Russian Central Bank May Start Buying Gold on Moscow Exchange, Sources Tell Reuters

Elena Fabrichnaya
Reuters
Tuesday, October 10, 2017

MOSCOW -- Russia's central bank may start buying gold for its official reserves on the Moscow Exchange, two people familiar with the matter told Reuters.

The Russian central bank is one of the world's largest holders of bullion and the switch would boost currently low turnover in gold trading on the Moscow Exchange, which launched a precious metals market only in 2013.

The bank has been regularly buying gold as it wrestles with weaker oil prices and Western sanctions imposed over Moscow's role in the Ukraine crisis. It has access to gold trading on the Moscow Exchange but has not been active so far, trading gold on the over-the-counter market instead.

The two sources said a final decision had yet to be taken but senior central bank officials were looking at what volumes could be bought via the exchange -- which serves as an equity, bond, foreign exchange, and derivatives market -- and from what date. ...

... For the remainder of the report:

https://www.reuters.com/article/russia-cenbank-gold-moex/russian-central... [1]



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