Hong Kong to launch long-awaited gold clearing and settlement system next week: sources

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Jul 3, 2026 #Agricultural Bank of China Limited Hong Kong Branch, #Asia, #Australia and New Zealand Banking Group, #Bank of China (Hong Kong), #Bank of Communications (Hong Kong), #China Construction Bank (Asia) Corporation Limited, #Citi Hong Kong, #Hong Kong, #Hong Kong Exchanges and Clearing, #Hongkong and Shanghai Banking Corporation, #Industrial and Commercial Bank of China (Asia), #JP Morgan, #London, #SCMP Business, #Shanghai Gold Exchange, #Standard Chartered Bank (Hong Kong)

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ExclusiveHong Kong to launch long-awaited gold clearing and settlement system next week: sources

The city plans to process its first gold settlement on Tuesday, according to those familiar with the matter

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Pure gold bars in Shanghai on March 15. Photo: CFOTO/Future Publishing via Getty Images

Enoch YiuandJulie ZhangPublished: 10:21am, 3 Jul 2026Updated: 10:25am, 3 Jul 2026Hong Kong will launch a long-awaited gold clearing and settlement system next week, making a giant stride towards being an international price-setter for the key precious metal, according to two sources with knowledge of the matter.

The authorities plan to process the first gold settlement through the new system on Tuesday, one source told the South China Morning Post.

“We have seen a lot of gold leave London, the US and Europe, and large bars have been flown into Asia in anticipation of this,” the source said. “It could create some volatilities in the London gold market in the short term as the market sort of rebalances.”

Hong Kong could move from being a gold-price taker to a price maker if the city gains more subscriptions from global and local banks, according to the source.

Another source, who is an executive of one of the banks that will participate in the clearing system, told the SCMP that the bank was preparing to start making deals with gold traders next week.

Meanwhile, Hong Kong Exchanges and Clearing (HKEX) would also waive the fee for gold futures from Monday for a year as it relaunches the product, according to a circular of the HKEX sent to gold traders. This will mark the fourth attempt by the bourse operator to launch the product, following three previous failed attempts since the 1980s.AdvertisementSelect VoiceSelect Speed00:0000:001.00x