Big Gold, Gem Auction in Russia

Gokhran of Russia, a state-run gold and gems depositary is to launch the first gold and gemstone auction on November 11, 2004. Among auctioned commodities are expected to be golden jewellery manufactured before 1983, gold and platinum nuggets.

According to the administration, the coming auction will help redistribute the structure of the State Fund of Russian Federation as well as purchase some unique new items instead of the line-produced ones.

Gokhran does not specify the initial price of the trade. The deadline for applying is November 1, 2004.