Page 46 - Bullion World Issue 3 July 2021

Bullion World | Issue 03 | July 2021

Global Palladium Fund launches
four precious metals ETCs backed

by blockchain security

A range of precious metal exchange-traded products that use blockchain to
provide security and proof of ownership have been launched on the Swiss Stock
Exchange.

The new physically-backed gold, silver, platinum and palladium exchange-traded
commodities were launched in January by Global Palladium Fund (GPF) in
conjunction with NTree International, which will market and distribute the ETCs,
and issuer Ridgex.

Source: https://www.proactiveinvestors.co.uk

Bank of Ghana launches local
gold-buying programme

The Bank of Ghana has launched a gold acquisition programme with the
aim of doubling its gold holdings over the next five years. In a speech at the
launch event on June 17, governor Ernest Addison said the programme
would allow the central bank to buy domestically produced gold from
“selected” aggregators and mining firms. “It therefore marks a significant
change in the modus operandi of Bank of Ghana’s foreign exchange
reserves management operations,” he said. Ghana’s central bank’s foreign

Source: https://www.centralbanking.com

Indonesia to set up
its own bullion bank

to boost domestic
gold trade

The government of Indonesia is planning to
establish a national bullion bank that will allow
trading of gold domestically as soon as 2024,
DGCX, FMA sign MoU in according to the country’s Trade Minister
Sudan to enhance gold Muhammad Lutfi. Indonesian authorities are
currently holding consultations with officials
market across Africa from the central bank and representatives of
the mining sector.

The Dubai Gold & Commodities Exchange (DGCX) on “Our exports have gone to transit countries
Tuesday announced the signing of a Memorandum of because they have better gold trading
Understanding (MoU) with the Financial Markets Regulatory systems, either in the form of bullion banks or
Authority (FMA) in Sudan to strengthen bilateral cooperation better bourses than ours,” Lutfi said as quoted
in the trading of gold between the UAE and Sudan through by Bloomberg.
the exchange of experiences. The agreement will see the
DGCX and FMA collaborate on areas of mutual benefit, foster “As a gold producing country why would we
collaboration, and exchange knowledge around gold trading. sell it to transit countries?”

Source: https://www.gulftoday.ae Source: https://www.rt.com

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