LONDON, 22 April 2016 – Chinese state news agency Xinhua quoted BullionVault overnight on the significance of the new Shanghai gold price benchmark, launched this week.
In a report carried across Chinese media today, Xinhua says the new 'fix' will "help China break away from the 'shackles' of the 'London Gold' price," according to some commentators, but "there is a long way to go before 'Shanghai Gold' can have a serious impact on global gold pricing, experts said."
Xinhua quotes Adrian Ash, head of research at BullionVault, speaking to US site MarketWatch earlier this week, and explaining what China's ban on the export of gold bullion means for the new price mechanism.
Read the report in English at The Shanghai Daily newspaper, or on Xinhua's site here:
China eyes more say in global gold pricing with new benchmark
