GOKHRAN of Russia is to launch the first gold and gemstone jewellery auction on Novemeber 11, 2004. To be traded are the golden jewellery manufactured before 1983, gold and platinum nuggets

The very fact of maintaining of such an auction shows that the state has come to a more rational reserve management policy. Current 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 define the initial price, which is to be settled during the trade. The deadline for applying is November 1, 2004.