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S'pore aims to set Asia gold benchmark price

Such a move for Asia time zone would help traders cut exposure to intraday price swings, overnight forex risks

Currently the global gold market uses two benchmark prices, set at 1030 and 1500 (London time) by the London Bullion Market Association (LBMA) and administered by the ICE Benchmark Administration.


SINGAPORE is looking at the possibility of setting a gold benchmark price for the Asian time zone as it continues its bid to become the regional bullion hub.

Gold trading has grown at a healthy clip since the government removed the Goods & Services Tax on investment...