China is set to launch interbank gold trading at the end of next month amid a broader set of banking reforms, in a move that has the potential to boost demand for bullion in the world’s largest consumer.
The Shanghai Gold Exchange confirmed it “has this plan” to create an interbank market and was working with other government agencies to do so, but declined to disclose details of how it would function.
Interbank gold trading would be a big step in China’s liberalisation of banking, which includes recent moves such as giving banks more freedom to set deposit and lending rates.
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