By Clara Denina Reuters Tuesday, August 9, 2016
LONDON -- The London Metal Exchange said today it is planning to launch spot and futures contracts for gold and silver in the first half of 2017, adding to its list of products which includes copper and aluminium.
The 139-year-old exchange is working in collaboration with the World Gold Council, an industry body backed by gold mining companies such as Barrick Gold and Goldcorp, and is supported by five banks and proprietary trader OSTC, which have committed to provide liquidity.
"The initiative has been driven by the need for greater market transparency, to support and aid ongoing regulatory change, provide additional robustness to the precious metals market, broaden market access," the exchange and its partners said in a statement. ...
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http://www.reuters.com/article/gold-contract-...e-idUSL6N0WR4PI
