Since the beginning of the year, NOMOS-BANK has acquired 35.1 tons of gold and 118.6 tons of silver

During the past eight months in 2008 NOMOS-BANK has acquired 35.1 tons of gold, including purchases from gold mining companies. The Bank has bought 118.6 tons of silver during the same period.

“Precious metals production season ends in October-November, so we expect to increase these figures before the end of the year”, — stresses Andrey Shirokov, Vice President of NOMOS-BANK.

The bulk of the precious metals was sold by NOMOS-BANK in the Russian domestic market, the remainder was exported, — specified Andrey Shirokov. According to him, the total amount of gold sold by NOMOS-BANK in 2008 exceeded 1 milliard U.S. Dollars, and of silver — circa 53 million U.S. Dollars.

NOMOS-BANK is one of the largest commercial operators in the Russian market of precious metals purchasing and selling in average circa 30% of gold and silver extracted in Russia. Over the 10 years of its engagement in that market, the Bank has created a full finance cycle — from geological surveying, prospecting, and extraction of precious metals to their processing and subsequent sale, including sales for export.