Americans Fear Beijing, Moscow May Introduce New Gold Standard
SputnikNews.com
20.05.2015
China is planning to introduce the gold fixing reference price in yuan. Americans fear that China could introduce a new gold standard to displace the dollar, DWN reported.
The competition for London gold-market has grown after the Chinese Shanghai Gold Exchange (SGE) established an International Chamber of Commerce in the free trade zone of the city, providing for free capital flows, Deutsche Wirtschafts Nachrichten reported.
“The central government is gradually opening up the gold market by allowing more participants to trade,” Bloomberg cited a senior gold analyst at Industrial Bank Co. in Shanghai, Jiang Shu.
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