China likely to get central bank nod for yuan gold fix soon
By GCRU Gold News on Wednesday, June 24 2015, 23:32 - Permalink
China is expected to receive approval from its central bank for a yuan-denominated gold fix "anytime now", with more details about the scheme potentially set to emerge at a major industry conference this week
If the yuan fix takes off, China could compel buyers in the mainland and foreign suppliers to pay the local price, making the London fix less relevant in the world's biggest bullion market.