Tag Archives: shanghai gold exchange

BRICS New Development Bank to Open July 7th

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

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China sets up giant gold fund to expand its market power

“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.”

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China Goes After Dollar With Gold Fix

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.

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China tests yuan gold fix process amid pricing ambitions: sources

(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.

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China’s SGE gold flows still at high level – 51t last week

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

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China Purchased 29 Tonnes of Gold in the Last 3 Days of 2014

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a huge rush for wholesale purchases of the precious metal during the last 3 days of December. 29 tonnes of gold were withdrawn on the SGE during a … Continue reading

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Shanghai Gold Exchange to Debut International Board Sept 29th

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

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