国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Markets

Chinese banks eye bigger role in gold pricing

By Zhang Chunyan (China Daily) Updated: 2015-02-10 07:57

Second, a larger and more diverse pool of participants in pricing will help the system maintain transparency.

The current process begins with the so-called spot price of gold, which is based on the current market rate of contracts for physical delivery of the metal.

The current four banks must then declare whether they are interested in buying or selling at this level. The price can fluctuate depending on the balance of supply and demand, and it settles on a "fixing".

However, the longstanding process has been tainted by a series of rigging scandals in recent years and attacked by critics.

Last May, the system drew scrutiny from regulators after Barclays was fined more than 26 million pounds ($45 million) after an ex-trader at the bank admitted attempting to manipulate the gold price.

London is the world's largest trading center for precious metals. Total demand for gold in 2013 was $184 billion, according to the World Gold Council.

Industry insiders said that the market price of gold, which is driven by investment and jewelry demand, could climb as a result of an overhaul.

Lacking transparency means that gold prices can be rigged to benefit banks at the expense of producers, traders, investors, jewelry producers and other market participants.

The LBMA, the regulators and market players will decide the new mechanism together in the first quarter of 2015. Questions about Chinese banks' role will also be answered then.

 

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
奎屯市| 务川| 襄城县| 尤溪县| 西城区| 四川省| 大庆市| 米脂县| 阳谷县| 外汇| 陆河县| 秦皇岛市| 昌都县| 福州市| 久治县| 肇州县| 盐亭县| 屏边| 繁昌县| 康定县| 神池县| 红安县| 刚察县| 东辽县| 安丘市| 万源市| 桓仁| 鹤岗市| 铅山县| 道孚县| 安泽县| 清流县| 内乡县| 丹棱县| 云龙县| 达日县| 桃园市| 元江| 鸡泽县| 顺平县| 汾阳市|