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China expands global gold influence as Cambodia plans to store reserves in SGE vaults
China’s plan to expand its influence over global financial markets and gold appears to be working, as several nations have shown interest in storing their gold with the Shanghai Gold Exchange (SGE) as it expands its vaults offshore. According to a report from Bloomberg, Cambodia’s central bank is expected to be among the first countries to store part of its gold reserves in SGE vaults located in Shenzhen’s bonded zone. The report also noted that other unnamed central banks have expressed interest in storing their gold with China. Cambodia’s central bank holds about 54 tons of gold, representing roughly 25% of ... (full story)
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