Hong Kong is pulling in large gold bars ahead of clearing launch

Hong Kong importing bullion bars ahead of clearing launch

By launching its gold clearing system, Hong Kong could secure first-mover advantage in a push to become Asia’s preeminent hub for bullion trading At least four of the 11 banks participating in Hong Kong’s new gold clearing system are importing large bullion bars in preparation for the mechanism’s planned launch in July. Traders are receiving orders from some of the clearing banks to move 400-ounce gold bars into the city, according to sources fa…

Hong Kong is pulling in large gold bars ahead of clearing launch

While the city plans to start by using the London Good Delivery standard, its future plans are still to be decided, according to sources Read more at The Business Times.