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mSparks

China Construction Bank joins London gold price auction

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Just catching up on various sitrep stuff.

 

http://www.reuters.com/article/2015/10/22/china-gold-ccb-idUSL8N12M44H20151022

 

The gold auction, which takes place each day at 1030 and 1500 London time, sets the London Bullion Market Association (LBMA) Gold Price, a benchmark used by producers, traders and end-users globally in contracts and transactions.

 

CCB will join the process from October 30, ICE said.

I could be wrong, but I am pretty sure this means gold is heading down hard.

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