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China: Bullion trading may spark gold demand

Posted on 04 December 2012

Gold demand in China may sparkle as an initial batch of 20 banks participated in trading bullion via the Shanghai Gold Exchange’s newly-launched interbank platform. The banks were allowed by the Shanghai bourse, China’s biggest spot gold market, to trade bullion among themselves from Monday.
The transactions involving bilateral price inquiry are performed on the China Foreign Exchange Trade System, and cleared and settled through the gold exchange. The gold bourse charges both parties 0.04 percent of the traded amount, said a statement on its website………………………………………..Full Article: Source


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