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As Asia takes over gold trade, World Gold Council considers standard for kilobars
By Pratima Desai
Monday, January 22, 2018
LONDON -- The World Gold Council is studying the creation of a global standard for gold kilobars so they can be deployed as collateral in futures markets and potentially encourage demand, sources close to the matter said.
Kilobars -- 1 kilogram gold bars -- dominate Asian trade but a lack of transparency about their origin and the absence of a global standard hinders their use on exchanges elsewhere.
Clearing houses, some of which allow bullion to be used as collateral on futures markets, might accept such bars if they all met a set of internationally recognized criteria.
London Metal Exchange clearing arm LME Clear cannot accept the kilobars used in Asia because they differ from London Good Delivery standard bars, typically around 400 ounces, as specified by the London Bullion Market Association. ...
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