POPA ReconSome major Chinese banks are shutting down services that aid retail trading in precious metals, after a multi-year rally in gold and silver…
Some major Chinese banks are shutting down services that aid retail trading in precious metals, after a multi-year rally in gold and silver went into reverse in recent months. Industrial & Commercial Bank of China Ltd, the nation’s biggest by assets, said it’ll stop offering intermediary services for individuals to trade precious metals on the Shanghai Gold Exchange after settlement on July 24. Existing clients are advised to sell or close their positions before then, it said in a statement on Wednesday. https://www.theedgesingapore.com/amp/news/china/chinese-banks-move-rein-retail-gold-trad…
The excerpt is quoted from a public Telegram channel, which owns its text.