Republic

In January-May Belarusians purchased 563,3kg of gold, or 6 times more than last year

In January-May 2006 the financial institutions of the country sold 563,3 kilos of gold, or 14,475 gold bars to household clients. This is six times more as against the same period of 2005, BelTA has been told in the information department of the National Bank of Belarus. Of them 10-gram bars accounted for one-third of the total bars sold (or 4,097) and 5-gram bars - 2,401. Moreover, in January-May the banks sold 70 one-kilogram bars and 94 bars weighing 0,5kg. At the same time the banks bought back more than 55,4 kg of gold. The gold bars are sold by the National Bank through its main offices and divisions (since August 1, 2001) and a range of banks of commerce. Since then the banks have sold a total of 1277,5kg of gold bars and purchased back – 83kg. The bars are made of gold of the highest standard (999) of 1,5,10, 20, 50,100, 250, 500 and 1,000 gram denomination. Operations with the bars are carried out by all main departments of the National Banks in the oblasts and the city of Minsk aтd also by the subdivisions in Bobruisk, Borisov, Molodechno, Mozyr, Drogichin, Baranovichi, Pinsk, Zhlobin, Lida, Orsha and Polotsk. As BelTA informed earlier, on April 14, 2005 the National Bank started selling silver and platinum bars. In January-May 2006 the Belarusians bought 232 platinum bars (more than six kilos). On the whole 11,2 kilos of platinum bars have been purchased within the whole period; more than 1,8 kilos of bars have been bought back. For the five months the National Bank sold 305,2 kilos of silver or 2567 bars. Most popular are 20-gram ones – 749 bars were bought within the period. On the whole since April 2005 the National Bank has sold 435,7 kilos of silver bars to natural persons; about 66,7 kilos have been bought back. The National Bank of Belarus started selling silver and platinum bars to develop the home market of precious stones and to provide household and corporate clients with a reliable and liquid investment medium. Bars made of precious stones help the population command their finances more efficiently and insure them against possible risks.