Gold Back to Futures on London Metal Exchange After 30 Years
- Gold, silver futures in ’17; platinum, palladium coming later
- Partners include Goldman Sachs, ICBC, Morgan Stanley, SocGen
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Three decades after London’s exchange-traded gold contract flopped, it’s coming back.
The London Metal Exchange, along with the World Gold Council and a group of banks and trading firms, are starting a new venture called LMEprecious, which will introduce centrally-cleared gold and silver contracts in the first half of next year, and later add platinum and palladium, according to a joint statement.