Loading ...China, Russia, Brazil, India, And Now UAE: Everybody Wants A Gold Trading Platform!
Authored by Rory Hall via The Daily Coin,
China started something when they opened the Shanghai Gold Exchange where physical gold is traded to a global market. Russia began trading gold futures on the Moscow Exchange which was followed by China and Russia announcing they would open the BRICS Gold Exchange to assist the other members of the BRICS alliance to acquire more gold. This was followed by India stating they would be pursuing a gold spot exchange market and next up is the United Arab Emirates (UAE) announcing they, too, are going to open a physical gold trading platform. WOW! That’s a lot of physical gold changing hands on a daily, weekly, monthly and yearly basis.
This is all pointing towards what seems to be a likely conclusion – a new gold pricing mechanism that is operated by the Shanghai Gold Exchange instead of COMEX in Chicago and New York or the LBMA in London.