You are here
Shanghai Gold Exchange to expand warehouse network to Hong Kong ...
... to give China more control over commodity pricing.
* * *
From Bloomberg News
Tuesday, May 6, 2025
The Shanghai Gold Exchange plans to expand its warehouse network to Hong Kong, helping to raise the profile of its yuan-denominated products, including for the precious metal, beyond mainland China.
The new vault will be operated by a subsidiary of Bank of China Ltd., according to people familiar with the matter, who requested not to be identified as the information is private.
... Dispatch continues below ...
... ADVERTISEMENT ...
Fisher Precious Metals offers great prices
with personal service from a family team
Family-owned and operated Fisher Precious Metals is a great low-cost source for precious metals -- coins, rounds, and bars. But we also get you the highest prices available when you sell your precious metals.
Expect a personal approach with Fisher Precious Metals. You can always speak directly with the owners within 24 hours if not immediately. We provide you a team you can get to know and call at any time to discuss your investments with no pressure to buy.
Check our Google reviews to see what our clients have to say:
https://g.page/FisherPreciousMetals?share
Contact us at 1-800-390-8576 or Info@FisherPM.com or visit us here:
https://fisherpreciousmetals.com/
The timeline for the move is not yet clear, they added. At present there are two such warehouses in Shanghai, plus a third in Shenzhen, just across the border from Hong Kong.
The People's Bank of China said last month it supported such a move, without providing a location. The central bank indicated that the initiative would promote yuan-denominated benchmarks for the Shanghai Gold Exchange's products, reflecting Beijing's push to exercise more influence over commodity pricing. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
