Published on Gold Anti-Trust Action Committee (http://www.gata.org)

Hong Kong exchange wants gold trading corridor along 'Belt and Road'

By cpowell
Created 2018-02-27 13:57

By Karen Yeung
South China Morning Post, Hong Kong
Tuesday, February 20, 2018

The Chinese Gold & Silver Exchange Society, Hong Kong's gold exchange, is in talks with Singapore, Myanmar and Dubai to establish a gold commodity corridor to promote yuan-denominated products under China's Belt and Road Initiative, according to its president Haywood Cheung Tak-hay.

The gold commodity corridor could be formed by establishing an integrated infrastructure network by using Hong Kong as a base, and connect the proposed bonded warehouse in Qianhai with commercial users and precious metals traders in countries along the Belt and Road, Cheung said on Tuesday at an event to mark the exchange's first day of trading in the Year of the Dog.

... Dispatch continues below ...


Fisher Precious Metals is preparing and equipping
clients for the upcoming 'Everything Bubble'

Fisher Precious Metals, North America's top-rated bullion dealer, known for personal service and great pricing, has been helping Americans and Canadians protect their wealth with precious metals for more than a decade. Enjoying a five-star client rating across the internet with no complaints at the Better Business Bureau, the team at Fisher Precious Metals works hard to serve you.

We have helped thousands of clients in buying and selling bullion, arranging segregated and offshore storage, establishing precious metals IRAs, and obtaining certified precious metals appraisals. We provide security to our clients with our Bullion Authenticity Guarantee. We recommend that you read our article "How to Avoid Bullion Counterfeits":

https://fisherpreciousmetals.com/precious-metals/bullion-authentication/ [1]

As a family-owned business, we strive to help you assess your wealth-protection goals and overall investment objectives. From the new precious metals buyer to the seasoned bullion investor, we are here to help you with a no-pressure, confidential consultation. Rest assured that everyone in our firm owns physical precious metals and no one is compensated via commission -- period.

Fisher Precious Metals is your full-service precious metals investment partner for life. Please call us at 1-800-390-8576 or visit us here:

https://fisherpreciousmetals.com [2]

"The successful linkages of such a gold corridor could probably boost demand from users and investors for kilobar gold," Cheung said. "This may also increase the turnover of yuan-denominated products by two or three times." ...

The proposed bonded warehouse in Qianhai free-trade zone, near Shenzhen, capable of storing 1,500 tonnes of gold, is expected to provide custodial and physical settlement services, and is likely to materialise in the next two to three months after receiving the verbal green light from the customs department recently, Cheung added. ...

... For the remainder of the report:

http://www.scmp.com/business/banking-finance/article/2133994/hong-kong-g... [3]

* * *

Join GATA here:

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/ [4]

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/ [5]

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org [6]

To contribute to GATA, please visit:

http://www.gata.org/node/16 [7]

Source URL: