New five-tael 24K gold bars, issued by the Chinese Gold and Silver Exchange Society, Hong Kong's major gold and silver exchange, are introduced during the first trading day after the Chinese New Year holidays in Hong Kong February 14, 2013.  REUTERS/Bobby Yip/Files

China’s gold exchange gains traction

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Foreign banks and trading houses have signed up for China’s planned global gold exchange. New members and major players in the industry are intrigued to have access to China as the biggest gold consumer worldwide and to trade commodities in the yuan currency, according to Reuters. China seeks to challenge …

India Finds New Gold Smuggling Route

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India has such an insatiable appetite for gold that smugglers are finding new ways to avoid the 10 percent import duty and sneak the precious metal into the country illegally. By avoiding the duty and meeting the high demand, gold smuggling now ranges from swallowing nuggets to hiding bars in …