Hong Kong is inviting several China-friendly central banks to participate in its gold-clearing system to boost the city as a major bullion-trading hub. The initiative could broaden central-bank access to Hong Kong-cleared gold, increase settlement volumes and liquidity in the regional gold market, and intensify competition with established clearing centers such as London and Zurich. The move also reflects a geopolitical tilt that may re-route some reserve and bullion flows toward Hong Kong.
Hong Kong is inviting several China-friendly central banks to participate in its gold-clearing system to boost the city as a major bullion-trading hub. The initiative could broaden central-bank access to Hong Kong-cleared gold, increase settlement volumes and liquidity in the regional gold market, and intensify competition with established clearing centers such as London and Zurich. The move also reflects a geopolitical tilt that may re-route some reserve and bullion flows toward Hong Kong.
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