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China eyes counterweight in gold trade with yuan fix

Move is to capitalise on the country's position as the world's top producer and a leading consumer

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Asia is the top buyer of gold, with China and India alone accounting for about half of global consumption.

Singapore

A DECADE after China kicked off a series of gold market reforms, plans to establish a yuan price fix mark one of Beijing's biggest step so far to capitalise on the country's position as the world's top producer and a leading consumer.

While no immediate threat to the gold