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| INVESTORS OFFSHORE -
NEWS |
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Gold Futures Market Launched In Hong Kong,
by Carla Johnson, Investors Offshore.com 23 October 2008
Hong Kong's gold futures market will provide a deep liquidity pool in the Asian
time zone to facilitate price discovery and risk management, Hong Kong Exchanges
and Clearing Limited chairman Ronald Arculli says.
Speaking at the gold futures launch ceremony on Wednesday, Arculli noted that it
was an ideal time for the launch due to the rising public interest in the commodity
and its greater price volatility.
The gold price has doubled in the past five years, while the annualised 30-day
volatility jumped to 50% in August from 10% over a year earlier.
Mr Arculli said gold futures trading will enable investors to guard against
unexpected moves in the international gold market, and capture trading opportunities.
"Hong Kong is the Mainland's largest trading partner for gold, which accounts
for 20% to 30% of Asian gold exports, making it an important trading hub,"
he observed.
He also reminded investors to understand the commodity, its risk and the unprecedented
volatility in the market before making investments.
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