Wednesday, November 21, 2012

CGSE to launch spot, Yuan based Silver trade in HK next year

HONG KONG(BullionStreet):

Growing demand for silver prompted Chinese Gold and Silver Exchange Society to launch a spot silver trading service in the first half of next year in Hong Kong.

CGSE also said it would consider launching yuan-denominated silver trading later under this new platform. The silver contract will be traded in 10 kilograms as one board lot while physical delivery must be at least 30 kilograms.

The CGSE is the only authorized spot gold exchange in Hong Kong. The CGSE currently offers spot gold trading denominated in both the Hong Kong dollar and yuan.

The CGSE launched the "Renminbi Kilobar Gold Contract" trading platform in 2011 that facilitated gold trading in the yuan currency for the first time in the city.

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