The Uzbekistan Commodity Exchange (UZEX) starts selling precious metals. It is reported by the press service of the exchange.
The Resolution of the Cabinet of Ministers of the Republic of Uzbekistan dated March 1, 2019 approved the “Regulations on the procedure for the sale of precious metals at the exchange trading of the Uzbek Republican Commodity and Raw Materials Exchange”.
According to the document, the exchange will sell standard ingots (plates) of precious metals, precious metals (gold, silver, platinum) in the form of ingots, granules or powder, as well as granules of precious metals.
Precious metals sellers are manufacturers of precious metals and other participants in exchange trading. Buyers can be manufacturers of industrial products with processing facilities, as well as manufacturers of jewelry and other products.
The starting price for precious metals will be determined on the basis of the last morning fixing of the London Association of the Precious Metals Market in the national currency of Uzbekistan. The size of the deposit made by sellers and buyers to the Clearing House of the Exchange (RCP) for participation in exchange trading is 1 percent of the estimated amount of the exchange transaction.
Exchange trades in precious metals will be carried out in accordance with the legislation, the rules of exchange trades and settlement, as well as clearing services. Acquired at exchange trading precious metals are not subject to sale for export.