gold, page-99

First 99 Last

Share
Profile

Follow
gungadin

2,055 Posts.

2

19/04/16

19:52

Post #: 17547327
Share
Originally posted by gungadin ↑

China on the move,

UPDATE 1-China launches yuan gold fix to boost power in global bullion market

19/04/16 16:50

Top consumer China launched a yuan-denominated gold benchmark on Tuesday, as the country took an ambitious step to exert more control over the pricing of the metal and boost its influence in the global bullion market.
The benchmark is a culmination of efforts by China over the last few years to reform its domestic gold market in a bid to gain a bigger say in the bullion industry, long dominated by London where the global spot benchmark price is set.
As the world's top producer, importer and consumer of gold, China has baulked at having to depend on a dollar price in international transactions, and believes its market weight should entitle it to set the price of gold.
The new benchmark may not be an immediate threat to London, but with time and full convertibility of the yuan it could become widely used and help China's efforts to boost the global use of its currency.

Expand

Hardly a surprise, fancy relying on a fair call from Barclay's, Deutsche. The Chinese are much smarter than that, ..... and have more skin in the game
6 Upvote

Reply

Top Stories

PCK

Painchek sees modest gain on reports aged care monitoring app bodes well in Scottish pilot

SLX

SILEX eyeing one-year breakeven as latest uranium uptick supports updates on enrichment testing

OVT

Nearly a year later, Ovanti revives Nasdaq talks after a BNPL revival in the US

Listen: HotCopper Wire Podcast 025 – Locksley rap video gives Hilltop Hoods run for money

Market Close: The US Fed rate is one thing – but are FDI outflows bringing down a boring ASX in favour of Wall Street?

There are more pages in this discussion • 128,609 more messages in this thread...

First 99 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

gold, page-99

Top Stories

Painchek sees modest gain on reports aged care monitoring app bodes well in Scottish pilot

SILEX eyeing one-year breakeven as latest uranium uptick supports updates on enrichment testing

Nearly a year later, Ovanti revives Nasdaq talks after a BNPL revival in the US

Listen: HotCopper Wire Podcast 025 – Locksley rap video gives Hilltop Hoods run for money

Market Close: The US Fed rate is one thing – but are FDI outflows bringing down a boring ASX in favour of Wall Street?

Featured News