HSBC plans to increase its Hong Kong gold storage to about 200 tonnes within months to support Hong Kong’s 2,000-tonne storage capacity target, the bank said. HSBC holds roughly 600 tonnes in London and more than $100bn of gold globally. Hong Kong has launched a gold central clearing and settlement system, and the Hong Kong Treasury and Shanghai Gold Exchange have begun the first phase of a physical connect to boost liquidity and link Asian, mainland and global markets. On the pilot day HSBC arr

HSBC plans to increase its Hong Kong gold storage to about 200 tonnes within months to support Hong Kong’s 2,000-tonne storage capacity target, the bank said. HSBC holds roughly 600 tonnes in London and more than $100bn of gold globally. Hong Kong has launched a gold central clearing and settlement system, and the Hong Kong Treasury and Shanghai Gold Exchange have begun the first phase of a physical connect to boost liquidity and link Asian, mainland and global markets. On the pilot day HSBC arranged initial client trades, completed full lifecycle processing and executed the first physical-connect transaction.