Redd Journalism: Hong Kong Plans For Complete Commodity Ecosystem 10-20-24 (kinda)
For Paul & Doctors of Journalism:
Emphasized Hong Kong’s strategic location between China and India, two of the largest gold consumer markets.
Plans to enhance storage facilities, with the airport vault capacity at 150 tonnes versus Singapore’s newly established 500-tonne vault.
Chan projected that the city’s daily gold trading volume, currently around US$100 million, has the potential to double in the future, driven by a decade-long annual growth rate of 18%.
Trading in gold bullion of 0.99 fineness increased at an 18% compound annual rate over the last decade, with 20% year-over-year growth in early 2024.
In 2022, Hong Kong exported $12.4B worth of gold, making it the top export product, primarily to China and India.
For DJ Paul & Friends In The Library:
Things you see when an asset is in the top-right corner. That phrase does indeed have a hyphen, confirmed.
Dodgers are 3 outs away from meeting the New York Yankees in the World Series, owned by the big American baseball owner conglomerate, in 2024, the year of your lord.
Ten days earlier Mr. Chan posted on his blog. The website is nice. Any website that looks like it was made the last time the Padres made the World Series while talking about boring financial stuff can catch this author's eyes.
Few things -- thinking helps more thoughts.
领英推荐
Dollar vs. renminbi. (One of the) International financial arter(ies)y. Gold storage. Also London Metal Exchange being a subsidiary of Hong Kong Exchanges and Clearing. That's fun.
The Olds on that forum love it. In order:
Sweet, sweet commodities are largely tethered to that sweet, sweet greenback. And while gold reaches toward the skies on that grid with the candles, it's interesting to see some commodity PR.
Friendly value battles. Assumably. Closer eye on USD. Dual-currency flexible.
Hedging against the D while owning the hedge, which could be another sign of all of the friendly 'liil currency wars, shoutout B-Rock's BTC. If an entity gets that positioning in an asset that is 33, 46, 59 percent of the world money flow, that entity can also drip the sweet, sweet local currency elixir over time. It's always one legislation domino away from those accounting databases that counting those gold trading hands clocking in as all RMB, oopsies.
Warehousing powerhouses. Switzerland, singapore, London, US, Dubai. LBMA, WTI, SHFE, DMCC.
Risk management tools, insurance, logistics, and storage solutions... sounds very fun. But also a little "creating the future of finance." Shoutout B-Rock's BTC.
Dodgers suck.