Increasing household demand for physical gold prompted Bank of Russia to halt its purchases from banks to ensure there’s enough supply for local buyers.
Under the deal being discussed, the roughly 10 banks that were Xiang Guangda’s counterparts for his nickel bet would extend enough credit to cover his mark-to-market losses.
The nation’s top economic planner told officials from major mining regions that it wants to boost domestic production capacity by about 300 million tonnes.
