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AverageJoe

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16/05/17

08:10

Post #: 24707217
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Originally posted by Crom Valen ↑

https://www.bloomberg.com/news/arti...-world-gold-council-on-plan-for-spot-exchange

India's Working With World Gold Council to Create a Spot Exchange

“We are working on a gold exchange for India,” P.R. Somasundaram, managing director for the World Gold Council in India, said in an interview in London on May 15. “The finance ministry has formed a gold committee. And the committee has taken this as one of the things to do.”

Gold exchanges around the world are being overhauled and developing new products, as authorities increase pressure to improve regulation and ensure fairness for everyone in the market. The gold council is working with a group of banks and the London Metal Exchange to start up futures contracts for four precious metals in the city. Gold and silver contracts are expected to go live in July, with platinum and palladium likely to follow in 2018.
The price of gold is rising for a second year, spurring interest from investors, amid growing demand from China and a weaker U.S. dollar.

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Shanghai gold exchange didn't saved gold so what would another spot exchange do?
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0 Great analysis

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