Hong Kong to launch central gold clearing platform in Q1 2026, vies with London

Hong Kong's financial services minister announced the city will launch a central gold clearing platform in Q1 2026, positioning itself as a global gold hub with distinct features from London. The move aims to capture a larger share of the precious metals trading value chain, potentially altering global gold market infrastructure and flows. The initiative is part of a broader push to enhance Hong Kong's financial competitiveness, though its impact on London's dominance remains uncertain.