Cbank says to start buying gold at Moscow Exchange from November 1

MOSCOW, Oct 18 (PRIME) -- Russia’s central bank plans to start buying gold on the Moscow Exchange for rubles with tomorrow settlement from November 1 to develop the organized market of precious metals, the regulator said in a statement on Wednesday.

The authority will place gold purchase bids three times at five-minute intervals under the current ruble market prices that are no higher than the equivalent of the LBMA Gold Price after the price is set each morning.

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