What are the international gold exchanges?

2023-06-05
Summary:

Stay informed with the latest news and analysis on global gold exchanges. Gain valuable insights for navigating the gold market effectively.

The value of gold is not only high in China, but also in foreign countries. Therefore, there are investments in gold around the world. However, due to the decreasing cost of obtaining information, there are also some informal gold trading venues in the market. We must have a certain level of discernment. So, what are the gold exchanges in the world?

What are the international gold exchanges? Location of the World Gold Exchange

Currently, all international gold transactions are as follows:

Zurich: Zurich, Switzerland became one of the world's gold trading centers in the 1930s due to its strong banking support. Since the 1960s, Zurich has become the world's second largest gold trading market. With the joint efforts of the three major Swiss banks, Zurich has always maintained its position as the center of world gold trading.


The London Gold Market is the oldest gold trading market in the world, with a history of nearly 300 years. Before 1968, it had a monopoly position in South Africa in the acquisition of gold and gold reserve. However, in 1968, the London gold market was temporarily closed, giving Zurich an opportunity to end its monopoly era.


The New York Mercantile Exchange is the world's largest gold futures trading market. Since December 31, 1974, the city has held an important position in the world's gold trade. In the United States, purchasing physical gold is often provided by small gold traders, making telephone futures trading the main trading entity.


Japan is a gold poor country, and almost all of its gold relies on imports. Since 1973, Japanese gold traders have allowed direct import of gold. By 1980, Japan's gold market was completely lifted and developed rapidly. The gold futures market in Japan plays an important role. The gold trading volume in Tokyo is equivalent to two-thirds of that in New York.


The real gold market in Singapore was established in 1869. After 1973, Singapore became a free gold trading market. In 1992, Singapore's gold imports accounted for 20% of the total global gold trading volume, further establishing the country's important position in physical gold trading.


The highly developed jewelry manufacturing industry in Hong Kong, China is destined to play an important role in the world gold market. The daily trading volume of the 'gold and silver industry trading ground' in Hong Kong ranges from 150000 to 200000, but the supervision of local platforms in Hong Kong is relatively weak.


Sydney and Melbourne: As gold trading centers, Sydney and Melbourne are based on Australia's advantageous position as a gold producing country.


Paris Market: The Paris market consists of a tangible market and an intangible market. The tangible market mainly refers to foreign exchange trading on the Paris Stock Exchange, which operates in the same way as the securities market. The official foreign exchange rate is announced daily, and the exchange rate between foreign exchange and the franc is a direct rate. But a large number of foreign exchange transactions are conducted outside the exchange. Foreign exchange trading outside the exchange involves either direct trading by both parties via phone or through brokers.


【 EBC Platform Risk Reminder and Disclaimer 】: There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice.

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