Goznak and St. Pete Exchange partner to start trading on gold stock market

State mint Goznak and the St. Petersburg Exchange signed an agreement on cooperation in the precious metals market on the sidelines of the XXVIII St. Petersburg International Economic Forum. The document was signed by the General Director of Goznak and President of the St. Petersburg Exchange Igor Artemyev. 

The parties agreed to jointly organize the trading of physical gold in the form of standard and weighted bullions on the St. Petersburg Exchange platform. In turn, Goznak will act as the responsible custodian, providing its infrastructure for storing traded gold and making the full range of respective operations during exchange transactions. The parties also agreed to study the future possibility of expanding cooperation in the field of precious metals trading on the exchange market. 

“In my opinion, physical gold as an investment instrument is beginning to rightfully take its proper place on the domestic market at last. In cooperation with the St. Petersburg Exchange, we offer our many years of experience in working with gold and our infrastructure capabilities for the custodial storage of precious metals. I am confident that our partnership will lead to qualitative changes in the gold market in the future, improve its liquidity, accessibility and pricing transparency. All this will allow gold to better unlock its potential and gain popularity among an even wider circle of investors, and help the St. Petersburg Exchange win a rightful place in the market of organized trading in this precious metal,” said Arkady Trachuk. 

“We and our colleagues from Goznak plan to create a risk-free trading space for counterparties, where they will be able to safely sell and buy weighted and standard precious metal bullions stored at Goznak as the custodian,” St. Petersburg Exchange president Igor Artemyev said in the press release. I am confident that the cooperation between the St. Petersburg Exchange and Goznak will give a new impetus to the development of exchange trading in precious metals and increase their trading volume. In the long term, it will also increase the investment appeal of the entire precious metals market for both legal entities and private investors,” Igor Artemyev emphasized. 

Goznak began to offer custodial storage services for precious metals in 2024. It provides responsible storage and support for transactions with gold, silver and platinum group metals to the benefit of professional market participants. With its mints, Goznak has more than 300 years of expertise and experience in working with precious metals, and also has a developed and secure infrastructure for their storage. 

 The Petersburg Exchange is the largest commodity exchange in Russia, that organizes trading in the markets of petroleum products, oil, petrochemicals, natural gas, LPG, metals, timber and building materials, mineral fertilizers and agricultural products, as well as in the derivatives market. Over a third of the main petroleum products supplied to the Russian domestic market are traded on the Exchange.

The St. Petersburg Exchange forms a transparent mechanism for fair pricing for Russian goods. The Exchange was established in May 2008. The Exchange license and license for clearing activities are available on the website. The head office of the Exchange is located in Moscow.

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