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Hong Kong launches gold clearing and settlement system next week, sources tell SCMP
Enoch Yiu and Julie Zhang
South China Morning Post, Hong Kong
Friday, July 3, 2026
Hong Kong will launch a long-awaited gold clearing and settlement system next week, making a giant stride towards being an international price-setter for the precious metal, according to two sources with knowledge of the matter.
Authorities plan to process the first gold settlement through the new system on Tuesday, after deal-making data was expected to be input into the system on Monday, two separate sources told the South China Morning Post.
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"We have seen a lot of gold leave London, the U.S., and Europe, and large bars have been flown into Asia in anticipation of this," the source said. "It could create some volatilities in the London gold market in the short term as the market sort of rebalances."
Hong Kong could move from being a gold price taker to a price maker if the city gains more subscriptions from global and local banks, according to the source.
Another source, who is an executive of one of the banks that will participate in the clearing system, told the SCMP that the bank was preparing to start making deals with gold traders next week. ...
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