Gold Market Competition Heats Up as Industry Meets in Singapore
The start of a gold-futures contract in Singapore has put the spotlight on fresh moves in Asian financial hubs to capitalize on rising interest in the commodity as demand increases and prices surge.
The BlackRock Inc.-backed Abaxx Exchange began offering a US dollar-denominated futures contract, sized at 1 kilogram (32.15 troy ounces) and locally deliverable, on Thursday. The move will be among developments highlighted at an industry conference organized by the Singapore Bullion Market Association that'll take place in the city-state over three days from Sunday.
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