Established rivals may keep Shanghai trade zone's gold exchange in check
By GCRU Gold News on Monday, September 22 2014, 02:55 - Permalink
China's launch of an international gold exchange in the Shanghai Free-Trade Zone 11 days ahead of schedule last week, may not be much help as it seeks to compete with established gold markets such as New York, London or Singapore.
While China is the largest physical gold consumer in the world, the financial infrastructure may lag that of Singapore and Hong Kong in handling a gold market.
Gold traders believe the gold market in the FTZ would attract domestic and foreign investors to trade, but catching up with the major international players will not come quickly.
Established rivals may keep Shanghai trade zone's gold exchange in check