Gold producer makes first trade on MOEX Precious Metals Market
On 2 December 2019, Moscow Exchange’s Precious Metals Market welcomed gold producer Mnogovershinnoye (part of Highland Gold Mining Limited) as the first gold miner to trade the metal on MOEX.
The company sold 1,198 oz (37,250 g) of gold at a price of RUB 3009.5 per gram (USD 1,445.40 per ounce). MOEX’s trade price was in line with the morning London spot price of USD 1,455.35-1.456.00 per ounce on the date of the transaction.
Highland Gold (Mnogovershinnoye) is the first gold producer to gain direct access to MOEX’s Precious Metals Market.
Moscow Exchange launched precious metals trading in 2013. As of now, 56 professional participants trade on the market. They can conclude spot and swap transactions in gold and silver through the central counterparty (National Clearing Center).