The State Repository for Precious Metals (Gokhran) will buy precious metals and stones for the State Fund at up to 6 billion rubles in 2017, follows from the draft budget of the Russian Federation, published by the Ministry of Finance. In the current year, as reported, the purchase will be carried out at 5.018 billion rubles. They were originally planned at 11.962 billion rubles, but before the beginning of October, this figure decreased by more than 2 times.
In May, Alexey Moiseev, Deputy Finance Minister, reported that the government has already decided to purchase ALROSA diamonds by Gokhran in 2016 at 5 billion rubles. Also, he said, Gokhran will buy technological metal at 18 million rubles for repair of jewelry. “We will refrain from bigger purchases of precious metals for now. We believe that, as time is still a lot to come, it makes sense to wait and to decide on this closer to the second half of the year,” Alexey Moiseev said then, commenting on the possibility of transition to the acquisition of palladium by Gokhran.
In 2018, the purchase of precious metals and stones will be made at up to 8.5 billion rubles, in 2019 – up to 10.5 billion rubles.
The sale of precious metals and stones in 2017 is planned at the level of up to 10.411 billion rubles, in 2018 – up to 10.5 billion rubles, in 2019 – up to 10.5 billion rubles.
In recent years, Gokhran mainly bought gold and sold diamonds.