CHINESE GOLD RUSH
The Dubai Gold and Commodities Exchange (DGCX) has obtained a licence from the Shanghai Gold Exchange (SGE) to list Shanghai Gold Futures on its exchange. It will be the first yuan-denominated gold future product to be offered outside of China and it will use the Shanghai Gold Benchmark Price as its pricing mechanism. The listing will create further economic cooperation between China and Dubai through the precious metals trade. Currently, DGCX bullion products offering include Spot and Futures Gold contact and an Indian Gold Quanto Futures.