Ministry drafts bill on National Wealth Fund investment in gold - Metals & Mining - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Ministry drafts bill on National Wealth Fund investment in gold

MOSCOW, Mar 29 (PRIME) -- The Finance Ministry has prepared a bill on investment of money from RussiaТs National Wealth Fund into gold, according to the document published late on March 26 on the website for disclosure of legal acts.

President Vladimir Putin signed a federal law in late 2020 that allows the government to use the National Wealth Fund money to buy precious metals. The Finance MinistryТs bill created legal conditions for investment in gold, a traditional defensive asset. It accounts for a significant part of the central bankТs foreign exchange reserves.

The Finance Ministry will buy gold at a price set by the central bank, which will equal the spot price for gold on the London Metals Exchange recalculated in rubles at the regulatorТs exchange rate on the date of the deal.

End %%md/jst%%

29.03.2021 08:47
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 90.4602 -1.7705 17 apr
USD 75.5535 -1.4273 17 apr
Stock Market Indices
1D 1W 1M 1Y
MICEX
micex 3580.70 +0.34 16:42 16 apr
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 234.63 -0.29 23:49 16 apr
lkoh 6054.50 -1.30 23:49 16 apr
rosn 556.50 +0.80 23:49 16 apr
sber 283.72 -1.20 23:49 16 apr
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 90.9300 -1.3125 14:59 16 apr
USDTD 76.2475 +0.6525 17:44 16 apr