China plans to ease gold trade restrictions

Section:

By David Stanway and A. Ananthalakshmi
Reuters
Monday, September 30, 2013

BEIJING -- China's central bank is planning to increase the number of firms allowed to import and export gold and will ease restrictions on individual buyers of the precious metal, according to a draft policy document issued on Monday.

The proposed policy change could boost imports by China, which is expected to overtake India this year as the world's top gold consumer, and where gold normally trades at a premium to London spot prices.

"If it comes into effect, supply into China could increase and (local) prices could ease depending on demand," said a Hong Kong-based precious metals trader, who declined to be named.

... For the complete story:

http://www.reuters.com/article/2013/09/30/china-gold-idUSL4N0HQ15N201309...



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