Hong Kong signs deal with Shanghai to boost gold trading
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Hong Kong has signed a deal with the Shanghai Gold Exchange to enhance gold trading and expand its storage capacity for gold, which has recently surpassed $5,000 an ounce. The agreement, signed at the Asian Financial Forum, aims to establish a cross-boundary trade-clearing system for gold and increase storage capacity from 150 tonnes to 2,000 tonnes within three years. Hong Kong leader John Lee emphasized the goal of creating an international gold trading market, with a central clearing system expected to begin trial operations this year.
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