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Purchase and Sale of Precious Metals

Sberbank is the major operator in the Russian precious metals market, and offers competitive prices for the purchase and sale of precious metals in physical and depersonalized form.

Prices for precious metals can be established on the basis of the London fixing price or depending on the current SPOT price.

Sberbank clients can receive information on the current level of prices for precious metals at any time.

Sberbank regularly monitors prices on international and domestic markets and executes clients’ orders for the purchase and sale of precious metals at any time.

Operations with Physical Precious Metal

Physical precious metal can be sold to Sberbank or purchased from Sberbank in the form of affinated standard and/ or minted bars.

Physical precious metal can be credited to a depersonalized Moscow loco account or withdrawn (received) from depersonalized Moscow loco account.

Purchase and sale of precious metals can be conducted pursuant to acceptance-and-transfer of precious metals terms:

  • In a Sberbank vault
  • In the Client’s/ Contractor’s vault.

The following kinds of minted bars can be purchased at Sberbank:

  • Gold weighing 1, 5, 10, 20, 50, 100, 250, 500 and 1,000 g
  • Silver weighing 50, 100, 250, 500 and 1,000 g
  • Platinum weighing 5, 10, 20, 50 and 100 g
  • Palladium weighing 5, 10, 20, 50 and 100 g.

Operations with Depersonalized Precious Metal

For operations with depersonalized precious metal the Contractor is required to have a depersonalized metal loro account, which can be opened at Sberbank.

Once such an account is opened, the Client has the following options:

  • Purchase depersonalized precious metals and credit them to his account
  • Sell depersonalized precious metals from his account
  • Credit precious metals, delivered in physical form, to his account (loco Moscow)
  • Receive precious metals in physical form from his account (loco Moscow).

Besides loro-loco Moscow accounts, over which clearing is conducted within Sberbank, loro-loco London and loco Zurich depersonalized precious metals accounts may be opened.

Loro-loco London and loco Zurich accounts allow transfers to be conducted both within Sberbank and to corresponding depersonalized precious metals accounts in other Russian or foreign banks.

Hedging Price Risks

For hedging adverse price changes in the precious metals market, Sberbank offers the following instruments:

  • Forward — a purchase and sale transaction of a certain quantity of precious metals for Russian rubles at a particular time in the future, at a price agreed at the time of the transaction
  • Option — buying the option to purchase (call) or sell (put) a certain quantity of precious metals for Russian rubles at a particular price at a particular time in the future (European option) or at any time before this particular date (American option).

SWAP Operations

SWAP operations can be used by contractors for:

  • Attracting deposits of precious metals/cash funds
  • Exchange by loco (loco Zurich/ loco Moscow/ loco London)
  • Exchange according to the quality of precious metal (for example, higher chemical content of precious metal for lower chemical content of precious metal, etc.)

Operations

Sberbank conducts operations for the purchase and sale of precious metals subject to the General Terms Master Agreement for Sale/Purchase Transactions with Precious Metals (available only in Russian).

Operations on depersonalized metal accounts are conducted on the basis of the Agreement for depersonalized metal loro accounts.