You are here
China, Singapore boost gold pricing campaign in push for Asia
By Manolo Serapio Jr and Koustav Samanta
Reuters
Monday, October 17, 2016
SINGAPORE -- China is marketing its yuan gold price to foreign exchanges and Singapore is looking at bringing London's gold benchmark to users in Asia, in moves meant to boost the region's exposure and influence in the global bullion market. ...
Shanghai Gold Exchange, the world's biggest physical bullion exchange, will collaborate with foreign exchanges and allow them to use its yuan-denominated gold price in developing derivatives products, Chairman Jiao Jinpu told an industry conference. ...
...dispatch continues below ...
13.4 Trillion Reasons Why New BMG Silver BullionFund
Makes Sense for Investors Looking for a Safe Haven
Company Announcement
Monday, October 17, 2016
TORONTO, Ontario -- Bullion Management Group Inc., a Canadian pioneer in precious metals investing, has expanded its line of bullion funds with the launch of BMG Silver BullionFund. The new fund invests exclusively in physical silver bullion. It is designed for investors seeking to add silver to their precious metals investments that offer long-term security and potential capital growth.
BMG Silver BullionFund is an open-end mutual fund trust that can be purchased and redeemed daily at net asset value and is eligible for TFSA, RRSP, and RESP investments.
Nick Barisheff, president and CEO of BMG, believes that there are several important reasons why investors looking for a safe haven are adding bullion to their portfolios. He observes that $13.4 trillion of government bonds worldwide now offer yields below zero. ...
For the remainder of the announcement:
http://bmgbullion.com/13-4-trillion-reasons-new-bmg-silver-bullionfund-m...
The latest move is an aggressive step by China -- the world's top consumer, producer, and importer of gold -- to market its pricing mechanism and aims for a bigger say in an industry long dominated by the London spot price.
"We would collaborate with various exchanges and authorise these external exchanges to start business outside China to use it as a basis for development of derivatives products," Jiao told an industry conference through an interpreter.
Shanghai's first deal will be signed with the Dubai Gold & Commodities Exchange next week, Jiao told reporters, adding that he expects more cooperation ahead. ...
... For the remainder of the report:
http://www.reuters.com/article/gold-asia-idUSL4N1CN3DW
* * *
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.html
Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
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:
