Pursuits
Singapore Seeks Gold Hub Role With China on Demand Shift
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Singapore will introduce a physical gold contract this year, while Shanghai starts international bullion trading, highlighting a push in the biggest consuming region to establish new price benchmarks as demand shifts east.
Singapore’s kilobar contract for 25 kilograms of 99.99 percent purity may begin as soon as September, according to a statement from Singapore Exchange Ltd., the World Gold Council, the government’s trade-promotion body and the Singapore Bullion Market Association at an industry conference. The Shanghai Gold Exchange plans to start its contract priced and settled in yuan in the third quarter, Chairman Xu Luode told the same gathering.