China’s decision earlier this week to channel all gold trading through Shanghai shouldn’t damp mainland investors’ appetite for bullion, even as unauthorized trading platforms that have mushroomed along with the boom in precious metals are forced to close, according to analysts. Originally from MarketWatch
The latest moves towards trade in Chinese yuan sounds the early death knell of the dollar as the world’s global reserve currency with gold likely to return to the monetary system as a result. Originally from Mineweb – Daily news headlines
Originally from MarketWatch
HONG KONG (MarketWatch) — China’s central bank has ordered all gold HONG KONG (MarketWatch) — China’s central bank has ordered all gold exchanges, apart from the official exchange in Shanghai, to cease operations, according to a statement Tuesday. Unauthorized gold exchanges and related trading platforms have sprung up around the country as bullion prices soared, [...]
The latest moves towards trade in Chinese yuan sounds the early death knell of the dollar as the world’s global reserve currency with gold likely to return to the monetary system as a result. Originally from Mineweb – Daily news headlines
CANBERRA (MarketWatch) — Chalice Gold Mines Ltd. (CHN.AU) said Wednesday it plans to sell its remaining 60% stake in the Zara project in Eritrea to China’s Sfeco Group, a subsidiary of Shanghai Construction Group Co. (600170.SH), for up to US$100 million. Originally from MarketWatch
Governments hate competition. Due to record breaking gold prices this year, more unauthorized gold exchanges have been created to capitalize on gold fever. However, China regulators are not happy about the competition. A joint statement issued by People’s Bank of China, the Ministry of Public Security and other regulators recently announced, “No local authority, institution [...]
In the latest move to control the number of gold exchanges springing up across the country China says it will close or alter them apart from the two major ones in Shanghai Originally from Mineweb – Daily news headlines
The head of research for China’s Central Banl says that the country should buy gold as the only safe place for risk averse investors when other assets are losing value Originally from Mineweb – Daily news headlines
Gold is trading at USD 1,604.2, EUR 1,227.90, GBP 1,026.40, CHF 1,495.0, JPY 124,984 and AUD 1,606.40 per ounce. Gold’s London AM fix this morning was USD 1,593.00, GBP 1,028.34, and EUR 1,222.94 per ounce. Yesterday’s AM fix was USD 1,605.00, GBP 1,027.003 and EUR 1,227.91 per ounce. Originally from The Market Oracle
Analysts say the listing of jewellery retailer Chow Tai Fook on the Hong Kong Stock Exchange is an attempt to cash in on China’s booming jewellery market in the face of stiffening competition from the West. Originally from Mineweb – Daily news headlines
Analysts say the listing of jewellery retailer Chow Tai Fook on the Hong Kong Stock Exchange, is an attempt to cash in on China’s booming jewellery market in the face of stiffening competition from the West. Originally from Mineweb – Daily news headlines
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