Hong Kong and Singapore told the LBMA's annual conference that global gold market liquidity is deep enough for emerging Asian hubs to grow alongside established Western trading centres — not a zero-sum fight with London.
Hong Kong plans to launch the first central clearing and settlement system for gold in early 2027, with more than 2,000 tonnes of storage capacity within two years, plus a renminbi physically-delivered gold futures contract later this year. July's 'Delivery Connect' programme with the Shanghai Gold Exchange already facilitates cross-border settlement.
Singapore, meanwhile, starts central-bank gold-vaulting services this month and is building an OTC gold clearing system. The message from both: they aim to complement — not displace — price discovery in the Asian time zone.
