Publisher's Synopsis
In English and Chinese, this book tells the definitive story of one of the world's great gold markets. For a generation Hong Kong has been the centre for physical gold distribution to China and throughout South-East Asia, a manufacturing base for "Chuk Kam" (pure gold) jewellery, and an essential link in round-the world, round-the-clock gold trading.;The author, Robert Sitt, has been one of Hong Kong's best-known gold traders for the last 30 years and has put all his experiences into writing the story of this sophisticated market. He traces the history from the original Chinese Gold and Silver Exchange Society (Kam Ngan) to Hong Kong's emergence as a major re-export centre (especially to China, the world's greatest gold consumer) and a trading forum used by international bullion banks to quote a parallel market in loco London gold during Hong Kong's opening hours.;This book explains all the subtleties of arbitrage and provides the basic information that any gold trader or investor needs to know, not just about Hong Kong itself, but its relationship with London and other international centres.;Appendices detail the main features of all Asian gold markets, technical guidelines for arbitrage, supply/demand trends and the most popular kilobar in Asia.
