Gold bullion certificate increases the market value of gold funds – Tejaratnews
According to Tejarat News, the deputy supervisor of financial institutions of the Securities and Exchange Organization commented on the effects of gold bullion certificate transactions.
Nasserpour said: Gold investment funds are close to 15 to 16 thousand billion tomans, and with the possibility of investing in gold bullion certificate of deposit transactions in the commodity exchange, the market value of the funds will increase significantly.
Alireza Nasserpour, the deputy supervisor of financial institutions of the Securities and Exchange Organization, pointed to the start of gold bullion certificate of deposit transactions in the Iran Commodity Exchange and said: Before the launch of gold bullion certificate of deposit transactions, there was also the experience of gold coin deposit certificate transactions in the commodity exchange. These transactions have favorable prosperity.
Nasserpour added: In the gold market, due to the fact that according to the law, the minting of coins is only under the control of the Central Bank, in some cases when we are faced with the growth of demand, there are sometimes restrictions on the supply side in the gold market, but this issue does not exist in the case of the gold bullion market. And it is considered an advantage.
A member of the Board of Directors of the Securities and Exchange Organization said: The launch of the gold bullion certificate of deposit market, considering that many companies are active in the bullion production sector and there is no monopoly in the production and supply sector, we will witness attractive transactions in this field.
He added: Also, gold bullion producing companies have always faced challenges in order to sell the gold they produce, and for a long time these companies wanted to sell gold bullion in a transparent and competitive market that is available to the public. The gold bullion deposit ends this challenge for producers.
A member of the Board of Directors of the Securities and Exchange Organization stated that by launching these transactions in the Commodity Exchange, any company that produces gold bullion with a minimum grade of 995 and the standards announced by the stock exchange can supply it, and stated: Manufacturing companies can transfer their products to warehouses. Accepted in the commodity exchange, it is offered and the general public and investors can easily purchase gold bullion certificates.
Referring to the advantages of gold bullion certificate of deposit, Nasserpour said: Gold is an asset class that can attract a part of investment along with other asset classes such as stocks, real estate and other classes.
According to the deputy supervisor of financial institutions of the Securities and Exchange Organization, the existence of a gold bullion cash market in line with the launch of a gold bullion futures market, along with a certificate of deposit based on this asset, can double the attractiveness of investing in gold financial instruments.
In the end, Nasserpour stated that we have given permission to gold investment funds to buy gold bars, and emphasized: The market cap (market value) of gold investment funds is close to 15 to 16 thousand billion tomans, which is possible to invest in gold bar deposit certificate transactions in the stock exchange. goods, the market value of these funds can increase significantly.
Source: stamp