Society eyes 24-hr gold trade
The SAR could start 24-hour gold trading this year, the Chinese Gold and Silver Exchange Society believes.
'We are ready for such a system in terms of the related software technology,' said Raymond Chan Fat-chu, the president of the society.
The next step towards setting up the operation was putting in infrastructure such as a US dollar-based clearing system and a bonded warehouse to hold inventory.
Mr Chan pointed out that Secretary for Financial Services Rafael Hui Si-yan had said that a US dollar clearing system would be set up in the third quarter.
The society would try to gain Government support for the construction of the bonded warehouse at Chek Lap Kok airport, Mr Chan said.