Thursday, September 18, 2014

China opens gold market to foreigners amid price ambition

Thank you GATA for bringing this article to our attention:

From Bloomberg:  China will give foreign investors direct access to its gold market for the first time today as the biggest-consuming nation seeks to exert more influence over prices while boosting the yuan's global use.

The Shanghai Gold Exchange will start trading contracts in the city's free-trade zone that will be linked to its domestic spot market and available to about 40 international members including Goldman Sachs Group and UBS. Access was previously limited to some Chinese subsidiaries. Gold in China this year cost as much as $31 an ounce more and $42 less than the London spot price, according to data compiled by Bloomberg. ...

... For the remainder of the report:

 September 18, 2014 (Source: GATA)


The Original
Vulture Speculator

Trading gold, silver and mining shares since 1980 with a focus on taking advantage of volatility extremes, Gene Arensberg analyses the markets through a basket of technical and fundamental indicators and shares his findings from time to time here at Got Gold Report. Mr. Arensberg has been quoted in the Wall Street Journal, Dow Jones MarketWatch, USA Today and dozens of other news organizations.

"I've been a huge fan of Gene and his amazing work for years..."

Brien Lundin, CEO, Jefferson Financial, Host of the annual New Orleans Investment Conference and Publisher of Gold Newsletter

Contact Us