Bank of China executive joins London Bullion Market Association board

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Published : October 15th, 2019
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Reuters/Peter Hobson/10-13-2019

“The London Bullion Market Association (LBMA) said on Monday a senior executive at Bank of China would join its board.”

USAGOLD note:  The presence of Chinese banks at the London gold fix and as members of the LBMA is a foundational element in the modern gold market.  China, after all, is the largest single source of demand for the physical (not paper) metal.  If an LBMA member, including major commercial banks, central banks and funds want to sell, China can (and likely will) enter its bid. For more detailed information, please see below.

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