China wants to steal gold-market ‘reins’ from New York, London
By GCRU Gold News on Thursday, July 9 2015, 23:17 - Permalink
China has been making it very clear that it wants more control over the global gold market, but it’ll have to go through New York and London first.
“Given that China is the epicenter of the physical gold market, it does make sense that the Chinese government would want its physical Shanghai gold market to supplant the Comex derivative market (and others) as the primary global price-setting mechanism,”