Commodity Trade Mantra

Posts Tagged ‘Gold Price Discovery’

China Moves To Dominate Gold Market With Physical Exchange

The encouraging factor about the SGE and the SGE international platform is that there is a lot of physical gold flowing through the Exchange. Therefore, price discovery is not just based on an inverted pyramid of mostly unallocated gold as in London or mostly cash-traded futures paper gold as in New York.

China will Dominate the Gold Market

China is now at the center of the global gold market – the engine driving the shift from West-to-East in terms of wealth creation, economic growth and gold production and consumption. A pro-gold culture, consistent economic growth and a supportive government, suggest that there is also significant room for further growth.

Peak Gold? Russia To Surpass Australia As World No 2 Gold Producer

Decline in gold production in Australia has been blamed on royalties & falling price in recent years. Possibly Australia may have reached “peak gold.” China & Russia are the only 2 large producers to have seen significant gold production increases as sizable ore deposits that were left untapped during the Communist eras are mined today.

Shanghai Becoming Global Gold Hub And Gold Price Discovery Center

China approached foreign banks, gold producers & refiners to participate in SGE’s international bourse to boost its position as a price-discovery center for gold. It plans to launch three physically-backed gold contracts. The chairman of SGE said that China should have its own pricing benchmark as it is the biggest consumer & producer of gold.

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