Hong Kong launches new micro-gold trading platform GoldZip

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Published : February 09th, 2019
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Category : Market Analysis

Hong Kong's local gold exchange will introduce in March a new trading platform called GoldZip which will allow investors to trade in units as small as a single gram for HK$300 (US$38), in an effort to raise the appeal of the yellow metal among younger retail investors.

Chinese Gold and Silver Exchange Society president Haywood Cheung Tak-hay told the Post that GoldZip will adopt blockchain technology to enable trading in amounts smaller than 1 tael, the current minimum trade on the exchange.

The platform will accept Hong Kong dollars, US dollars and yuan. ...

The platform will enable investors to place their trades online or over the phone through a gold broker who is a member of the Chinese Gold and Silver Exchange Society. Each trade will entail a commission of 0.01 percent of the value of the order.

Investors can store their physical gold at the exchange or take physical possession for off-site safekeeping. ...

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