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Hong Kong opening up precious metal exchange May 18th

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posted on May, 8 2011 @ 09:38 PM
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HONG KONG (Commodity Online): The Hong Kong Mercantile Exchange (HKMEx) has received authorisation from the Securities and Futures Commission and will make its trading debut on May 18, 2011 with the 1-kilo gold futures contract offered in US dollars with physical delivery in Hong Kong.

The ATS authorisation grants HKMEx the right to offer market participants, through its member firms, the use of its state-of-the-art electronic platform to trade commodities. The Exchange will begin trading with at least 16 members including some of the world’s largest financial institutions as well as several well-established brokerages in Hong Kong.


Commity Online

HKMEX Link

Zero hedge

China to begin trading gold and other precious metals futures.

Direct gold line for China, which means silver will be being pulled up in it's wake.

Any ideas what this could lead too? I am rather naive in these matters
edit on 8-5-2011 by Skerrako because: (no reason given)

edit on 8-5-2011 by Skerrako because: sp




posted on May, 8 2011 @ 09:40 PM
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Beat me by literally two seconds. Lol. Important news though. Mods feel free to close the thread I just started.



posted on May, 8 2011 @ 09:50 PM
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interesting find
Looks like a solid case of more demand

I know The chinese are on a buy and hold mission
I think their government encourages this
Now this is one more pipe opening up
but the supply isn't greater, just the servicing of the demand capacity is greater...
I would guess that means
"up" for the anything with "demand verses supply" ratios that beat paper value

this could draw the money away from the paper with no delivery...
I would guess the pundits that see eventual 250 - 1000 silver must have their reasons
Al Martin, and Bob Chapman, Frances Insites,etc. being right so far..
even the current dip was forecast in slightly different amounts the lowest being 26 ish...
But they all see the trend based on fundamentals to be sound...
I think this confirms that it is

Also I heard that when the comex raised the margins a lot of people couldn't meet it
and lost their money
which if true, would scare people away from that system..
how can a normal person profit in that situation?

go where the "money" is..
delivered
edit on 8-5-2011 by Danbones because: (no reason given)



posted on May, 8 2011 @ 09:57 PM
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reply to post by stephinrazin
 




Beat me by literally two seconds. Lol. Important news though. Mods feel free to close the thread I just started.


lol, I actually posted this in two other threads first


But it is very important, I was thinking this would raise demand ten-fold, but it could also be entrepreneurs jumping in the manipulation game too right?

HSBC (Hong Kong Shainghi Banking Corporation) is in the paper manipulation (to a lesser degree than JP Morgue) so why wouldn't the exchange be that way too?




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