Chinese Banks Want to Join Gold, Silver Pricing Benchmarks

The Bullion Desk reported that a number of Chinese banks are interested in joining the London Bullion Market Association’s gold and silver pricing benchmarks. However, they are “waiting for the administration to be decided” before making any moves.

As quoted in the market news:

JP Morgan joined the silver benchmarking process yesterday, alongside HSBC Bank USA, Mitsui & Co Precious Metals, the Bank of Nova Scotia – ScotiaMocatta and UBS AG. Others parties are believed to be in the pipeline.

At least 12 candidates have thrown their hat into the ring to administrate the London gold pricing benchmarks, which closed its doors for submissions last week.

Click here to read the full article from The Bullion Desk.