15.10.2024, 16:31
The exchange will launch trading in platinum and palladium
Source: OREANDA-NEWS
OREANDA-NEWS Starting from October 21, the Moscow Exchange will launch trading in platinum (PLT/RUB) and palladium (PLD/RUB) on the foreign exchange and precious metals markets. This is reported on the site of the site.
The trades will be carried out with calculations for "today" and "tomorrow" with the availability of swap transactions (the exchange of assets with the obligation to make a subsequent forward reverse exchange of them on a certain date according to pre-agreed terms) and will take place from 10 to 19 o'clock Moscow time.
It is noted that instruments with pairs in the precious metals market platinum/ruble and palladium/ruble were added to the system in a state of technical readiness on August 5.
Platinum, which has been more expensive than gold for many years, is now worth significantly less than it, and the gap has only increased in recent years. In 2023, the price of platinum fell by 8.4 percent, to $ 995 per troy ounce and is now trading near the same values ($998.9 at the time of writing), while gold, whose prices have been breaking records for several months in a row against the background of geopolitical instability and the situation around the US presidential election, has become more expensive than this precious metals have almost tripled.
Palladium fell by 38 percent last year, to $ 1,109 per ounce, and in 2024 it lost almost 10 percent more in value, reaching the current $ 1,018. This led to the fact that in the summer the cost of platinum overtook palladium for the first time since 2017, Kommersant wrote.
The trades will be carried out with calculations for "today" and "tomorrow" with the availability of swap transactions (the exchange of assets with the obligation to make a subsequent forward reverse exchange of them on a certain date according to pre-agreed terms) and will take place from 10 to 19 o'clock Moscow time.
It is noted that instruments with pairs in the precious metals market platinum/ruble and palladium/ruble were added to the system in a state of technical readiness on August 5.
Platinum, which has been more expensive than gold for many years, is now worth significantly less than it, and the gap has only increased in recent years. In 2023, the price of platinum fell by 8.4 percent, to $ 995 per troy ounce and is now trading near the same values ($998.9 at the time of writing), while gold, whose prices have been breaking records for several months in a row against the background of geopolitical instability and the situation around the US presidential election, has become more expensive than this precious metals have almost tripled.
Palladium fell by 38 percent last year, to $ 1,109 per ounce, and in 2024 it lost almost 10 percent more in value, reaching the current $ 1,018. This led to the fact that in the summer the cost of platinum overtook palladium for the first time since 2017, Kommersant wrote.
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