Loading ...JOHANNESBURG (miningweekly.com) – China’s Shanghai Gold Exchange plans to introduce a yuan-denominated gold pricing mechanism to facilitate regional market trading and the Indian gold trade is expressing an intent to establish a gold exchange. The World Gold Council market intelligence head Alistair Hewitt predicts in a media release to Creamer Media’s Mining Weekly Online that the gold market will continue to improve in 2016 on the back of pro-gold Indian government schemes, further internationalisation of the renminbi and the increasing transparency of Chinese gold reserves. He expects yuan gold pricing to take shape in 2016, when he foresees gold continuing to provide a hedge against elevated stock valuations. Meanwhile, he sees increased economic output and growing incomes strengthening the case for gold as a long-term strategic asset and wealth preservation tool.
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