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I didn’t see much coverage of this and I thought it was fairly interesting.  Seems China is opening gold trading to banks through a new exchange.   This bodes well for gold and I might entertain the idea of revisiting one of my favorite ETFs GDX.

The Shanghai Gold Exchange will launch individual gold bullion trading nationwide in July by teaming up with Industrial Bank.

    The exchange will hold a joint briefing with Industrial Bank about the service in the first part of July, said the gold bourse yesterday.

    It will later launch trading through Huaxia Bank. Industrial and Commercial Bank of China is likely be the third player to join the scheme.

    Under the plan, individual investors will be able to trade gold from a minimum threshold of 100 grams, which would require about 16,000 yuan (US$2,099) based on yesterday’s prices on the bourse.

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