China plans gold futures trading
"China's gold market is growing fast with more products," the Shanghai Daily quoted central bank governor Zhou Xiaochuan as saying.
"The yellow metal's safe-haven status as an investment channel has not been fully developed yet and that's what China will endeavour to do," Zhou said at the London Bullion Markets Association Conference in Shanghai.
"Futures gold trading will provide gold consumers and buyers a channel to protect against price shifts," Zhou added.
"It may also give those who want to take profit on betting on price trends another investment channel."
Zhou also said that trading of the physical commodity would allow individuals to hedge their investments against swings in inflation.
After multiple delays, the 128-member Shanghai Gold Exchange opened in October last year.
China is set to triple gold demand over in coming years, up from 200 tonnes, the World Gold Council said Monday.
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