PBoC reportedly vaulting more gold in Hong Kong
Report comes as city conducts trial run on gold clearing system and aims to become international bullion hub
The People’s Bank of China is reportedly increasing the amount of gold it is storing in Hong Kong as the city embarks on its mission to become a trading hub for the precious metal.
Bloomberg reported today (August 7) that unnamed sources familiar with the matter said that the Chinese central bank had increased its Hong Kong-based gold storage over the past few months, and that it would continue to do so. The report contained no details regarding the scale of stated gold transfers.
The PBoC did not
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