LME's pitch for share of gold market faces bumpy ride
Cautious participants fear inflexibility and rising costs, with fears of more rules
London
FEARS of inflexibility and rising costs are sapping enthusiasm for the London Metal Exchange's new suite of gold contracts, potentially leaving the exchange reliant on the threat of an increasing regulatory burden to drive uptake.
London's US$5 trillion-a-year gold trade has, along with the rest of the City of London, found itself under increased scrutiny since the Libor scandal, with US lawsuits alleging rigging against the banks that set bullion prices.
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