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. Last Updated: 07/27/2016

Gold Securities

MOSCOW -- A new kind of government securities will be issued this year for crediting the gold industry.

The new securities -- "gold certificates" -- will be redeemed with gold and issued by the Finance Ministry.

The decision was made at a meeting Friday between Deputy Prime Minister Viktor Khristenko and the heads of the Finance Ministry, the federal fund of precious metals and stones and the Central Bank. Khristenko said the government's goal was "to create effective mechanisms for forming a civilized market of precious metals and stones."