China sets up “largest” gold fund for nations along Silk Road

BEIJING: China, the world’s biggest gold producer, has set up a gold sector fund involving countries along the ancient Silk Road which is expected to raise $16.1 billion.

The fund, led by Shanghai Gold Exchange (SGE), is expected to raise an estimated 100 billion yuan ($16.1 billion) in three phases, state-run Xinhua news agency reported. It is said to be the “largest fund” set up by China. Continue reading