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Commodities Briefing - Categorized | Bullion/Gold, Trading more

Hong Kong and the gold trade

Posted on 15 November 2012

Hong Kong, sitting China’s on flank and on the route to India, appears to be the nexus for a huge amount of gold moving around the planet, with as much as 60 metric tons of the precious metal crossing through in some months, worth US$3.32 billion at the current price per ounce.
There is so much gold passing through the territory from as far away as Switzerland that, as Asia Sentinel reported on Nov. 12, in July the Israel-based Malca-Amit Global Ltd announced that it had opened a bullion storage facility at Hong Kong International Airport that is capable of holding 1,000 tonnes at any given time – 22 percent of the gold in the fabled US storage facility at Fort Knox, Kentucky……………………………………….Full Article: Source


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VRS - who has written 37241 posts on Opalesque Commodities Briefing.


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