Gold Market News

First Japanese gold ETF due to launch Aug. 10

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As well as Small-Lot Gold Futures Trading on TOCOM(100 grams per lot , margin = 12,000 Yen)

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Korea : The government plans to establish an exchange for gold as early as next year.

By Lee Hyo-sik
Staff Reporter

"The government plans to establish an exchange for gold as early as next year to make gold transactions more transparent and discourage the smuggling of the precious metal.

According to the Ministry of Finance and Economy, the government will set up an exchange, an organization to manage and supervise gold distribution, next year to stem any illegal transactions and distribution of gold.

It will expand the exchange into a comprehensive commodity exchange, like New York Mercantile Exchange (NYMEX), to deal with not only gold, but diamond, crude oil and other commodities as well.

The exchange will operate separately from the Korea Exchange (KRX) on which stocks, bonds and derivatives are traded, the ministry said."

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