| Yuan-denominated benchmark for the metal is a sign of China’s growing clout in the world. The yuan-denominated gold benchmark debuted in Shanghai yesterday as China took a step forward in vying to be a global price-setter for the precious metal.
The gold fix is also the latest sign that Beijing will continue to expand the role of its currency to match the country’s increasing economic might. The gold benchmark launched by the Shanghai Stock Exchange is based on a 1 kilogram-contract and was set at 256.92 yuan yesterday morning...............................................Full Article: Source
|