Hong Kong to Launch Gold Clearing and Settlement System Next Week: SCMP

Hong Kong will launch a gold clearing and settlement system next week, marking a step forward in developing international precious-metals pricing in the city, according to Ming Pao, citing a South China Morning Post report. Sources cited in the report said they have seen large volumes of gold and bullion flowing from London, the UK and Europe to Asia. They said the market rebalancing could bring short-term volatility to the London gold market.