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Hong Kong bourse proposes to revive gold futures as volatility grips market
Hong Kong Exchanges and Clearing (HKEX) is looking to relaunch gold futures, as the city pushes to become an international gold trading and storage hub amid volatile bullion prices driven by geopolitical tensions. The bourse’s head of markets, Gregory Yu, told local lawmakers this week that the exchange plans to revive gold futures, according to a video of the meeting reviewed by Reuters. HKEX last launched gold futures in 2017 after an earlier product introduced in 2008 was suspended in 2015, but both efforts failed to gain traction due to weak liquidity and competition from established global markets. Yu, ... (full story)