Singapore will study the possibility of bringing the gold benchmark pricing in London to users in Asia, in a move that would also allow market participants in the world's top consuming region to help set the price of bullion.
Home to the world's biggest buyers China and India, Asia's importance has been on the rise as the key source of demand for gold, but bullion traders in the region are often exposed to intraday price volatility and overnight foreign exchange risks with benchmark prices currently being set out of London.
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