London starts to see the shine in China’s gold plans
There appeared to be a changing tide of acceptance rather than concern over the past fortnight, that Shanghai is becoming a bigger, and more influential, cog in the global gold machine.
One senior bullion banker said that fear is no longer the rationale, as has been the case for many, regarding China becoming the dominant force in the global gold marketplace.
A gold dealer was of the same inclination.
He said that “someone” needs to step in and help rejuvenate London’s importance as a global gold hub, be it the London Metal Exchange of Shanghai Gold Exchange; or both.
“I think it should be the best [London as a global hub for gold trade] and still could be, but time is running out fast,” he said.
Read more at: Platts.com