Singapore delays launch of gold contract by a month: Reuters
As China goes ahead of schedule for gold exchange.
Singapore has been hoping to become Southeast Asia’s gold trading hub, but it would have to wait another month before it can officially declare itself as so.
The country has delayed the launch of its gold contract to October, sources interviewed by Reuters say.
According to Reuters, the 25 kg contract was set to be launched on the Singapore Exchange this month. The delay was due to some technical issues in setting up the trading system, the sources say.
Meanwhile, China will launch its international gold exchange days ahead of schedule, racing ahead in the scramble to set up an Asian bullion benchmark.