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China plans to launch yuan gold fix by end of this year
By A. Ananthalakshmi
Thursday, June 25, 2015
SHANGHAI -- China plans to launch a yuan-denominated gold fix by the end of 2015 via the Shanghai Gold Exchange in a move aimed at giving the world's biggest bullion producer and consumer more influence over pricing.
The first public confirmation made by an exchange official comes after Reuters cited sources in February on the proposal for the fix to be set through trading on the SGE, the world's biggest physical bullion exchange.
"We will be introducing a renminbi-denominated fix at the right moment. We are hoping to introduce it by the end of the year," Shen Gang, SGE's vice president, said at the LBMA Bullion Market Forum in Shanghai on Thursday. ...
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