You are here
Hong Kong exchange to launch yuan-settled gold, copper futures
By Ruby Lian and Fayen Wong
Reuters
Friday, March 23, 2012
http://www.reuters.com/article/2012/03/23/hkmex-futures-idUSL3E8EN2BL201...
SHANGHAI -- The Hong Kong Mercantile Exchange plans to launch yuan-settled gold and copper futures by July, its president said on Friday, as it looks to tap growing interest in commodities from Chinese investors.
Albert Helmig also told reporters in Shanghai that the bourse would offer yuan-denominated contracts for other industrial metals in the next 12 months.
Appetite for investment in commodities has risen dramatically in China over the last few years on the back of galloping prices, which have also led to more hedging demand from some companies.
... Dispatch continues below ...
Golden Phoenix Discusses Royalty Mining Growth Strategy
on '21st Century Business' on Fox Business Network
Golden Phoenix Minerals Inc. has discussed its royalty mining growth strategy on the Fox Business Network program "21st Century Business" with host Jackie Bales. Golden Phoenix's director of corporate communications, Robert Ian, told how the company narrows its focus to project generation and future royalty streams. He explained why Golden Phoenix believes it's better to own joint-venture interests in several producing mines instead of full exposure to just one project.
"21st Century Business" has been airing for 15 years. Previous hosts have included Gen. Alexander Haig, Gen.l Norman Schwarzkopf, and Secretary of Defense Caspar Weinberger. Golden Phoenix appeared as paid programming on this broadcast.
To view the program with Golden Phoenix, please visit Golden Phoenix's Internet site here:
http://www.goldenphoenix.us/company-videos.html
HKMEx benefits from the wall of restrictions governing Chinese derivatives trading, which prohibit Chinese nationals from participating in markets outside China and Hong Kong.
China, which keeps a tight grip on its commodities market, also limits financial institutions from investing in commodity futures without special regulatory approval.
HKMEx launched trading of U.S. dollar-settled gold and silver futures last year.
* * *
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
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:
Be Part of a Chance to Discover
Multi-Million-Ounce Gold and Silver Deposits in Canada
Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada.
Check out the exploration program on our Allco gold/silver project :
-- A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit.
-- The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries.
-- A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited.
To learn more about the Allco property or Northaven's other gold and silver projects, please visit:
http://www.northavenresources.com
Or call Northaven CEO Allen Leschert at 604-696-3600.
