China grants gold import licences to foreign banks for 1st time: Reports

http://economictimes.indiatimes.com/news/international/business/china-grants-gold-import-licences-to-foreign-banks-for-1st-time-reports/articleshow/28827361.cms

Allowing more banks to import gold could increase the supply of the metal into the country, easing local prices that are higher than in most Asian nations.

China's gold imports more than doubled last year to over 1,000 tonnes - ousting India as the biggest buyer - as demand soared to unprecedented levels due to the first drop in international prices in 12 years.

ANZ and HSBC were awarded import licences late last year, two sources with direct knowledge of the matter told Reute ..

Allowing more banks to import gold could increase the supply of the metal into the country, easing local prices that are higher than in most Asian nations.

China's gold imports more than doubled last year to over 1,000 tonnes - ousting India as the biggest buyer - as demand soared to unprecedented levels due to the first drop in international prices in 12 years.

ANZ and HSBC were awarded import licences late last year, two sources with direct knowledge of the matter told Reute ..

Read more at:
http://economictimes.indiatimes.com/articleshow/28827361.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Allowing more banks to import gold could increase the supply of the metal into the country, easing local prices that are higher than in most Asian nations.

China's gold imports more than doubled last year to over 1,000 tonnes - ousting India as the biggest buyer - as demand soared to unprecedented levels due to the first drop in international prices in 12 years.

ANZ and HSBC were awarded import licences late last year, two sources with direct knowledge of the matter told Reute ..

Read more at:
http://economictimes.indiatimes.com/articleshow/28827361.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst