Foreign banks reluctant to be part of Shanghai Gold Fix
By GCRU Gold News on Wednesday, May 18 2016, 00:04 - Permalink
The Shanghai Gold Exchange (SGE) has been struggling to get more foreign banks involved in its newly established Gold Benchmark Price since its launch on April 19.
Support from foreign players is widely believed to be crucial to establishing the new pricing mechanism as an international benchmark. Although the SGE has said it intends to get more on board, only two foreign banks – Standard Chartered and ANZ – have so far signed up.