19 Jul '11, 8am

Hong Kong Mercantile Exchange to launch #silver futures on July 22 #gold #bullion #preciousmetals #CrashJPM

Topics: Commodities Economy Government and Policy International On Monday 18 July 2011, 15:47 SGT SINGAPORE, July 18 (Reuters) - The Hong Kong Mercantile Exchange (HKMEx) said on Monday it will start trading a dollar-denominated silver futures contract on July 22, hoping to tap into the growing demand for the metal in China. The silver contract will trade in lots of 1,000 troy ounces and be delivered in Hong Kong, the exchange said in a statement. Silver demand rose 67 percent in China and 17 percent globally between 2008 and 2010, the exchange said, citing market data it has compiled. "The new contract will enable buyers and sellers in China to trade effectively with their counterparts across the world, while at the same time, allowing investors to gain exposure to silver price movements and broaden their investment portfolio," said HKMEx president Albert Helmig in the st...

Full article: http://sg.finance.yahoo.com/news/Hong-Kong-Mercantile-Exc...

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