China to put gold mkt In Shanghai, timing unclear

Central bank officials Monday said China's first communist-era gold market will be set up in Shanghai, but they declined to say when.

While one Shanghai market official said gold trading will start in June, the central bank wouldn't confirm it. "Even if we knew, we still wouldn't say," said Pan Jun, deputy director of gold and silver administration at the People's Bank of China.

The central bank still buys and sells all gold in China, with the exception of some old gold jewellery.Several state

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