Stiff rivalry in the offing for SGX gold futures

SINGAPORE Exchange's (SGX) gold futures - due to be launched as soon as this month - are set to face fierce competition in the region.

CME Group, the largest futures operator globally, will be launching a physically deliverable gold futures contract in Hong Kong in the fourth quarter of this year, while gold trading for international players will start in the Shanghai free trade zone at the end of this month.

CME's kilobar contract will be smaller than SGX's, which will make…