香港黄金中央结算系统有望年内试运行

Core Viewpoint - Hong Kong is accelerating the establishment of a central gold settlement system to enhance the reliability and efficiency of gold trading and physical delivery, aiming for a trial run within the year [1][2]. Group 1: Central Gold Settlement System - The Hong Kong government is working on a central gold settlement system to improve trading efficiency and reduce costs, addressing current inconveniences in the OTC market where parties must clear trades themselves [1][3]. - A memorandum of cooperation will be signed with the Shanghai Gold Exchange to strengthen the construction of the central clearing system and prepare for future connectivity with mainland markets [2][3]. Group 2: Market Demand and Growth - There is a significant demand for gold storage and trading in Hong Kong, with the government aiming to position the city as a regional gold reserve hub, targeting over 2000 tons of gold storage in collaboration with financial institutions [1][2]. - The average daily trading volume of gold in Hong Kong has more than doubled year-on-year, reaching 2.9 billion HKD as of November last year, indicating a more active market [2]. Group 3: Global Gold Market Trends - Global gold demand value increased by 44% year-on-year, reaching 146 billion USD, with a notable rise in gold prices, which have accumulated over a 60% increase since 2025, marking the largest rise since 1979 [2][4]. - The demand for gold as a diversified investment and a hedge against inflation is growing, with expectations for central bank net purchases to reach 950 tons in 2026, up from previous estimates [4]. Group 4: Future Outlook - UBS Wealth Management has raised its gold price targets for 2026, forecasting a price of 5000 USD per ounce, reflecting continued confidence in gold as a valuable asset and risk hedge [4].