Wednesday, June 25th 11:31 AM IST

Singapore to launch new physical Gold contract in September

# Gold News  

The Singapore Exchange will launch a new physically deliverable gold contract in September this year to meet Asian yellow metal demand, the world's biggest consumer of the precious metal.

SINGAPORE (Bullion Street): The Singapore Exchange will launch a new physically deliverable gold contract in September this year to meet Asian yellow metal demand, the world's biggest consumer of the precious metal.

The contract is the first wholesale 25 kilobar gold contract to be offered globally and comprises a series of six daily contracts.

“SGX's market place will enable the trading and clearing of the Singapore kilobar gold contract and establish a fully transparent price discovery mechanism for gold in this region,” said Muthukrishnan Ramaswami, president of SGX in a statement.

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