China tests yuan gold fix process
Major Chinese banks, some foreign banks involved in trial as China plans to launch gold fix this year
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CHINA conducted trial runs for the planned launch of a yuan-denominated gold fix last month, three sources familiar with the matter said, in a sign that the world's second-biggest bullion consumer was moving closer to creating a benchmark price.
The state-run Shanghai Gold Exchange (SGE), on whose international platform the fix will be launched, conducted the trial with major Chinese banks and a few foreign banks, the sources said this week. The SGE could not be immediately reached for comment.
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