July 2, 2014 at 11:40Stock Market and Saving Finances: How to Buy Gold Bars
In our blog, we have already discussed the issues of saving savings (in particular, in relation to IT specialists ) and examined the possibilities that the stock market can offer in this regard in comparison with the usual banks. Today we would like to elaborate on one of the most popular ways of saving capital in the history of mankind - the purchase of precious metals.
What are you talking about?
Since the fall of 2013, precious metals trading has been available on the main Russian exchange platform - the Moscow Exchange. Any person who has opened a special account with a brokerage company accredited to work in this “metal” market can buy and sell non-cash gold and silver.
How it works?
To make transactions with precious metals, the broker opens a corresponding “metal” account for the client on the exchange, after which he can buy and sell metals (the price is set for one gram, the standard lot is 10 g of gold and 100 g of silver).
Currently, only four brokerage companies in Russia provide customers with access to trading in precious metals - one of them is ITinvest (you can open an account for buying gold and silver on the company's website).
Those wishing to purchase gold or silver in the stock market can participate in tenders, which are held daily from 10:00 to 23:50 Moscow time. Gold is indicated in the trading terminal as GLDRUB, and silver SLVRUB - metals are purchased in rubles.
Where is gold (and silver) stored
To participate in the bidding, clients are opened with depersonalized metal accounts at the National Clearing Center (NCC), which are used to record transactions in precious metals.
The amount of gold or silver owned by a particular investor is accounted for by NPO NRD CJSC (National Accounting Depository). And the metal itself is stored in the central vault of the Bank of Russia (here is its location on the map ) or in the NCC vault.
By prior agreement, it is possible to organize the procedure of “removal” of metal, that is, its removal from the storage - a commission is charged for this operation in the amount of 0.05% of the cost of a gold bar and 0.25% of the cost of a silver bar.
conclusions
Precious metals can become another tool for working in the stock market along with traditional stocks and derivatives ( futures and options ). Precious metals can not only be sent to the warehouse, but also used as a guarantee for trade. In addition, the Moscow Exchange market allows, after waiting for a favorable price, to buy and sell gold and silver in a couple of clicks in the trading terminal, whereas in ordinary life it is a rather complicated and slow procedure - it takes a lot of papers to be issued, and only after that the owner can pick up his bullion from storage.
Of course, investments in precious metals through the Moscow Exchange are unlikely to become the main way to increase the capital of the population, but in a situation where licenses continue to be withdrawn from an increasing number of banks, and exchange rates “ jump ” depending on the political situation, it’s obviously worth thinking about diversification of your investments.
PS For those who are interested in the stock market and want to test themselves, we have a special competition called “Traders League” (and “Test League of Traders”, where trading is virtual money) during which exchange traders compete and compare the results of their trading. Most recently, we summed up the results of the next season, announced the winners and talked about innovations in the rules.
Related posts and links: