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Gold/Mining/Energy : A to Z Junior Mining Research Site

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To: IngotWeTrust who wrote (4212)	4/25/2003 9:12:58 AM
From: 4figureau	Read Replies (1) of 5423

China will allow individuals to trade gold - paper Fri April 25, 2003 12:29 AM ET SHANGHAI, April 25 (Reuters) - Shanghai's fledgling gold exchange is making preparations to allow individuals to trade gold, a state newspaper said on Friday, part of a broad plan to deregulate the closely guarded precious metals market. The exchange aimed to complete preparations in the first half of this year, the paper quoted exchange chairman Shen Xiangrong as saying. But the exchange had set no timeframe for the launch of the programme, contrary to media reports that it would allow individuals to trade spot gold in the first half of 2003, the newspaper quoted Shen as saying. Analysts said such a move could help boost volumes on the exchange as trade is now restricted to domestic firms, such as jewellers and gold producers. Gold exchange officials declined comment on Friday. The exchange began formal spot gold trading on October 30, ending half a century of rigid government control of the domestic precious metals market. reuters.com

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