Moscow trades in precious metals for first time

Photo: Bullion Vault

The decision, which came into force on Monday 21st October, marks a milestone for the alternative asset, as investors look to new sectors to diversify their portfolio. Commodities are a common element of an investment pool, helping to avoid risk by over-exposure to other markets.

Automated Trader reports that banks will be able make transactions in bullion, with transportation and storage contracted out to Brinks and TBSS.

The trading will be based on FX Market’s trading and clearing, with previous metals available as collateral for the first time in the history of Russia’s exchange trading. Quotes will be in RUB per gram.

If the introduction of precious metals to the Exchange is successful, platinum and palladium trading will be launched in the first half of 2014.