Tag Archives: shanghai gold exchange
China announced on July 1st that the Standing Committee of the National People’s Congress officially ratified the agreement signed in Brazil last year to launch the New Development Bank for the BRICS nations. The bank’s Board of Governors are scheduled … Continue reading →
“China has set up its largest gold-investment fund ever, expected to total 100 billion yuan ($16 billion), aiming to invest in mining projects in the region and enhance Chinese influence in global gold markets, local media reports said Wednesday.”
The establishment of a China-based gold fix for the yuan also marginally undermines the dollar as the global benchmark currency, says Jan Dehn, an economist with the Ashmore Group in London, a $70 billion asset management firm.
(Reuters) – China conducted trial runs for the planned launch of a yuan-denominated gold fix last month, three sources familiar with the matter said, in a sign the world’s second-biggest bullion consumer was moving closer to creating a benchmark price.
For the second week in a row, gold withdrawals from China’s Shanghai Gold Exchange (SGE) have been at around 50 tonnes – a high level for the post Chinese New Year period. Withdrawals from the exchange for the first 16 … Continue reading →
The Shanghai Gold Exchange released a report on January 3rd that showed a huge rush for wholesale purchases of the precious metal during the last 3 days of December. 29 tonnes of gold were withdrawn on the SGE during a … Continue reading →
On September 29th, the Shanghai Gold Exchange plans to launch its international board, in the new free-trade zone of the city. The highly-anticipated move is seen as an effort to inject foreign capital into China’s gold market and should amplify … Continue reading →