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Chinese Gold & Silver Exchange to launch Silver tr

[M1DAS]

HONG KONG(BullionStreet): Hong Kong's Chinese Gold & Silver Exchange Society annopunced launching silver trading in three different currencies. The exchange plans to launch silver futures in Hong Kong dollars, followed by US dollars and later by Yuan. Investors could settle in cash or opt for physical delivery. According to Haywood Cheung Tak-hay, president of the bourse said continued gains in precious metal prices and rising mainland demand prompted the Society to launch silver futures. He added that though silver prices have fallen this year, but we expect them to rise again in the fourth quarter. It's a good time for us to reintroduce silver trading. iven that there's no sign of any resolution to the euro-zone crisis, gold and silver look like a safe haven for investors, he added. The planned move is part of a broader strategy by the bourse. The bourse introduced gold trading in Yuan in October. The society was set up in 1910.At its peak in the 1980s and 1990s, all major overseas gold trading firms traded on the market The gold bear of the mid-1990s eroded its turnover, but gold trading has bounced back in recent years. The exchange previously had silver trading, but turnover dwindled over the past 20 years. https://www.bullionstreet.com/news/chinese-gold-silver-exchange-to-launch-silver-trading/2093