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Chinese Gold & Silver Exchange Kicks Off Yuan-Denominated Gold Trade
Oct. 18, 2011 02:35PM PST
Precious MetalsPlatts reported that the Chinese Gold and Silver Exchange Society is now offering gold contracts in yuan.
Platts reported that the Chinese Gold and Silver Exchange Society is now offering gold contracts in yuan.
As quoted in the market news:
The exchange expects the newly launched Renminbi Kilobar Gold contracts’ trade volume to account for 5-10% of CGSE’s total gold trade volume in the initial phase, rising to around 30% by mid-2012.
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