<div id="readability-page-1"><div><p>According to Bloomberg, citing sources, Hong Kong plans to launch a new gold clearing system in July to advance its role as a global gold trading hub. The system is said to model the financial infrastructure of London, the worlds largest precious metals market, allowing market participants to conduct trade settlement through unallocated accounts.</p><p>Unallocated accounts enable faster and larger-scale transactions, as clients are not required to hold gold bars with specific serial numbers. Most precious metals in London are cleared using this method.</p><p>Hong Kong has reportedly invited several central banks with friendly ties to China to participate in the clearing system. The initiative has also generated strong industry interest, particularly among trading companies and financial institutions seeking alternative channels in Asia for gold trading.</p><p>The Financial Services and the Treasury Bureau of Hong Kong stated that preparatory work has entered the final stage, with a pilot run of the clearing system scheduled to begin within this year. (mn/da)</p></div></div>

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<p>Hong Kong plans to launch a new gold clearing system in July, modeled after London's financial infrastructure, to enhance its status as a global gold trading hub. The system will allow trade settlement through unallocated accounts, facilitating faster transactions. Several central banks with ties to China have been invited to participate, and strong interest has been noted among trading companies and financial institutions. Preparatory work is in the final stage, with a pilot run expected this year.</p>

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Hong Kong Reportedly May Launch New Gold Clearing System in Jul