The practice of using gold credits in the subsoil use

Abstract

The mining companies use the gold loans (credits) both to finance gold-mining works, and to hedge the price of a new metal; refineries and enterprises for the production of articles made of gold use the gold credits to manage an exposure to fluctuations in metal prices; commercial banks and portfolio investors - for arbitrage deals and profit. The use of the gold loan scheme in practice is described. The mechanism for the forward sale of gold is shown to be able to be combined with other tools of the credit market and the derivatives market. The role of the central bank in the gold loans is described.

Keywords

• золотые кредиты
• золотые займы
• лизинг золота
• процентные ставки
• лизинговые ставки
• золотой libor
• депозитная сделка
• депозитная ставка
• аффинажный завод
• коммерческий банк
• кредитный рынок
• рынок срочных контрактов
• форвард
• опцион
• варрант