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06-26-2015, 01:38 PM
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There Is More To Gold Than Greece (http://info.kitco.com/there-is-more-to-gold-than-greece)
(http://info.kitco.com/another-round-at-the-bar)


Yes. There is something besides Greece you should be paying attention to.

In other news, China announced plans to launch a yuan-denominated gold fix this year. "We will be introducing a renminbi-denominated fix at the right moment, we are hoping to introduce by the end of the year," Shen Gang, vice president of the Shanghai Gold Exchange said at the LBMA Bullion Market Forum in Shanghai on Thursday. The yuan fix will be complementary to the current global benchmark, the century-old London gold fix.

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Earlier this week, Kitco News asked best-selling author Jim Rickards whether the move could make the London fix less relevant. "For the time being the gold market is still in London but one need to follow the gold, - the gold is going to China," he said in a studio interview.

And yes there is Greece. On this topic, Rickards does not foresee a Grexit. "No one is getting kicked out, nobody is quitting and that doesn't mean that everything is fine in Greece, there can be a lot of financial disruptions but none of that is the same as Greece leaving the euro.”

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