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China to launch yuan-denominated gold fix this year

Posted on 26 June 2015

The Shanghai Gold Exchange will launch a yuan-denominated gold fix by the end of the year, a bourse official said on Thursday, in a move aimed at giving China more influence over the pricing of the precious metal.
“We will be introducing a renminbi-denominated fix at the right moment, we are hoping to introduce by the end of the year,” Shen Gang, vice president of the Shanghai Gold Exchange said at the LBMA Bullion Market Forum in Shanghai………………………………………..Full Article: Source


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