Commodity Trade Mantra

Posts Tagged ‘Chinese Gold Market’

With all the Fragmentation, will the London Gold Market Self Destruct?

The London Gold Market is now having an identity crisis. In the last year we have seen a barrage of news about changes that are coming. To us, it seems the role of price maker is becoming increasingly up for grabs. And, in the time it takes for London gold market to come through its disruptive phase, will the Chinese have taken a bigger piece of the pie for themselves?

Did the PBOC Covertly Buy 1,747 Tonnes of Gold in London?

Does the PBOC buy 400-ounce Good Delivery bars in London & covertly transport these gold bars to its gold vaults in China mainland, or are they shipped to Switzerland, refined into 1 Kg 9999 gold bars, sent forward to Chinese mainland where they’re required to be sold through the SGE gold exchange, from where they can be bought by the PBOC?

PBOC Gold Purchases: Separating Facts from Speculation

PBOC buys gold with their foreign exchange reserves than with renminbi – China’s FX reserves are worth about $3.7 trillion & mostly held in USD. Gold on SGE is quoted in renminbi, so PBOC can’t exchange USD with gold there. PBOC is likely to buy gold abroad & these purchases should be added to the visible gold flows.

China Holds “Gold Congress” - In China, Gold Is Money

The 3 day China Gold Congress showcases China’s gold industry. Co-sponsored by World Gold Council & China Gold Association, it is China’s biggest gold industry event of the year, drawing in participants from across Chinese & international gold sectors including central banks, mining companies, bullion banks & refiners.

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