Bank of Russia to change price policy in the domestic precious metal market
11 February 2019
Press release
This year the Bank of Russia is to change its price policy in the domestic precious metal market to even out price conditions of selling gold to the Bank of Russia and its export sales and of other market segments, as well as to lay the groundwork for further market development. A haircut will be set to the purchase price of fine gold determined daily based on the morning LBMA Gold Price auction.
The haircut will apply from 1 May 2019 and its size will gradually increase during the year.
Schedule of haircut changes to the Bank of Russia’s gold purchase price in the domestic market in 2019
| Date of introduction | 01.05 | 01.06 | 01.07 | 01.08 | 01.09 | 01.10 | 01.11 | 01.12 |
| Haircut at non-organised trading (per cent) | 0.05 | 0.06 | 0.07 | 0.08 | 0.09 | 0.10 | 0.11 | 0.12 |
| Haircut at organised trading (per cent) | 0.14 | 0.15 | 0.16 | 0.17 | 0.18 | 0.19 | 0.20 | 0.21 |
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