The Shanghai Gold Exchange (SGE) has reportedly decided to l launch its international gold exchange 11 days ahead of schedule.
The SGE, which had initially planned the launch for 29 September 2014, will now launch on 18 September, according to Reuters.
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Two sources familiar with the matter told Reuters that the change was made based on the availability of some government officials to participate in the launch event.
All 11 physical gold contracts will begin trading on 18 September, the publication said.
The launch is part of China’s strategy to deepen its influence over the global gold market, where China is the biggest producer and consumer but sees itself as lacking clout in pricing.
Also, Singapore has delayed the launch of its gold contract to October.
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