from, Bullion Street:
China’s leading gold exchange, the Shanghai Gold Exchange is proposing to move gold bullion to another platform to help invetsors and banks, said Michael Lombardi, lead contributor to Profit Confidential.
According to Lombardi, the move as a natural progression for China, the largest buyer and miner of gold bullion.
In the article “China Wants to be a Major Global Trader of Gold Bullion,” Lombardi notes that the Shanghai Gold Exchange allows the trading of gold bullion, but its membership is limited to only a few investors.
“The Chinese economy tends to be a more closed place where access is limited for institutions around the world,” says Lombardi. “This opening up to banks and investment houses around the world is significant for the Chinese economy.”