China’s Gold Trading Ban Starts This Week. Will Gold Prices Move? | Metals Mine

  • China’s Gold Trading Ban Starts This Week. Will Gold Prices Move?

    From financefeeds.com

    China’s largest banks will begin withdrawing individual investors from precious metals trading linked to the Shanghai Gold Exchange on Friday, July 24, but the approaching deadline may not be as bearish for gold as it first appears. The closure removes a channel used by retail traders to take leveraged or synthetic exposure to gold. At the same time, Hong Kong is expanding the ability of retirement funds to invest in gold exchange-traded funds, strengthening links with the Shanghai Gold Exchange and building infrastructure intended to turn the city into an international gold trading and settlement centre. Taken ... (full story)

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