Hong Kong importing large gold bars ahead of central clearing system launch: Bloomberg

Mon June 22 2026

Hong Kong is importing large gold bars ahead of the planned launch of a new central clearing system for bullion next month, Bloomberg reported.

At least four out of the 11 lenders participating in the clearing system have asked traders to transport 400-ounce gold bars to the city, the report said, citing sources.

These bars, which are of London Good Delivery standard, the global "gold standard" for physical precious metals, are usually traded in London, the world’s largest gold trading center, it said.

The Asian gold market primarily deals in much smaller kilobars, it said, adding that these banks need to build up their inventories to meet the demand for physical delivery once the clearing mechanism is launched.

In addition to the Shanghai Gold Exchange, regulatory bodies, 11 lenders, including six international banks, are board members of the Hong Kong Precious Metals Central Clearing Company, responsible for the clearing system, the government announced earlier.

The government-owned system will mirror the financial infrastructure of London and will allow participants to settle trades through "unallocated accounts, Bloomberg reported last month.

Such accounts are crucial for market liquidity as they enable faster and larger-scale transactions, said the report at the time.

The arrangement has generated immense interest in the industry, particularly among trading companies and financial institutions looking for alternative trading options in Asia, the news agency said.

Source: https://www.thestandard.com.hk/