>>Home > Services > Global Markets

Global Markets

The Global Markets business unit is Rand Refinery’s central hub for customer relationship management and the tactical marketing and sales of Rand Refinery’s entire range of precious metals products to diverse entities based in many different parts of the globe.

The team provides a range of services to local and foreign banks as well as foreign bullion banks, local and foreign jewellery manufacturers and many classes of direct investors in finished gold products. In addition, this division also provides limited treasury services to the smaller mines and facilitates their gold sales.

The different services and dealing functions the Global Markets unit provides to its internal and external customers include:
  • the financial and accounting management that is required to track customer’s metal ownership through the production and sales processes
  • the sending of confirmations on a monthly basis to afford our customers the opportunity of confirming that our records are correct
  • the invoicing of customers for refining and smelting services and sales
  • gold storage in both allocated and un-allocated metal accounts on behalf of purchasing customers
  • the daily sales of precious metals and the dissemination of proceeds. As part of that process, Global Markets executes all trading, funding, investment and conversion transactions. This includes all foreign exchange and money market transactions and includes any possible hedging transactions. These transactions are done by an elite team of Dealers.
  • facilitating the export of precious metals, including shipment logistics
  • the twice daily gold pricing in rand terms for local sales
  • developing new products for the jewellery manufacturing industry to satisfy end-user demand both for the local and international market
  • internally, Global Markets provides a treasury and corporate financial function to Rand Refinery as well as providing crucial input into the overall financial risk management process of the company as a whole.
As Rand Refinery is highly sensitive to the dollar/rand exchange rate and precious metal price variation, the need to watch the volatility of our metal gains and currency-based revenue streams is vital. When appropriate, Rand Refinery uses sophisticated hedging techniques to manage these risks in both exchange rates, interest rates and precious metals prices. 

Through our Structured Financial Products, we aim to limit the price risk of customers by allowing fixed price and volume contracts price risk to be managed by Rand Refinery, thus limiting the customers exposure to these variables, where permitted. 

Rand Refinery is aware that ‘availability buys affinity’. For this reason, Rand Refinery provides Just-in-Time gold in the various active gold purchasing markets.

Our Global Markets business unit markets all the precious metal produced by the refinery to the worldwide market, including the following regions:
  • Africa
  • United States of America
  • United Kingdon
  • Europe
  • Indian sub-continent
  • Australasia
  • Middle East