Bank of China joins London's gold price setting system
Participation in gold auction will increase link between China and global markets, it says
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London
A CHINESE bank will help set prices in London's US$20 billion gold market for the first time ever as the nation strengthens its influence in the world's financial system.
Bank of China will join lenders including Goldman Sachs Group and Barclays plc that run the twice-daily auction system for pricing gold, according to a statement from the London Bullion Market Association on Tuesday.
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