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China plans yuan gold pricing, India eyeing exchange – World Gold Council

China’s Shanghai Gold Exchange plans to introduce a yuan-denominated gold pricing mechanism to facilitate regional market trading and the Indian gold trade is expressing an intent to establish a gold exchange. The World Gold Council market intelligence head Alistair Hewitt predicts in a media release to Creamer Media’s Mining Weekly Online that the gold market will continue to improve in 2016 on the back of pro-gold Indian government schemes, further internationalisation of the renminbi and the increasing transparency of Chinese gold reserves.