Get Chinese Fix With Gold Images. ($1 = 6.4732 chinese yuan renminbi) (additional reporting by jan harvey in london; The london gold fix, previously set via a teleconference among banks and facing allegations of manipulation, was replaced in 2015 by electronic auctions.
Daily roundup: How 'black gold' is helping to fix ... from www.asiaone.com Eighteen institutions including top chinese banks such as bank of china and icbc, as well as standard chartered and anz will join the benchmark fixing. This inclusion can lead only to further recognition of the importance of gold in the international monetary system as china's central bank. The change in weighting at the london gold fix to give the chinese representation of over 25% appears to be driven by fear that the shanghai gold exchange (sge) may soon supersede london as the hub of the global gold market and location where the daily gold price is determined.
The shanghai gold benchmark price, or shanghai gold fix, is the result of an auction held twice daily on trading days by the shanghai gold exchange (sge), at 10:15 am and 2:15 pm, beijing time.
The chinese fix may pose tough competition to the other markets. With such huge demand from china, 30% of the gold market may soon be converted to the yuan, giving the yuan comparative strength among other currencies. Interest has been very positive and creates a more diverse pool of. The new benchmarking process for gold in london has begun today, but without any direct chinese involvement as yet.
Location:
Share :
Post a Comment
for "Get Chinese Fix With Gold Images"
Post a Comment for "Get Chinese Fix With Gold Images"