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STANCHART Studies Establishing Own Gold Vault, Expects Potential ~20% Gold Price Upside Within Yr
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STANCHART (02888.HK) is conducting a preliminary study on establishing its own gold vault. If realized, Hong Kong would become the group's first physical gold storage vault, complementing its existing provision of physical gold and derivatives trading services to institutional clients and further enhancing its ecosystem. John Thang, Head of Markets, HK, Greater China & North Asia at Standard Chartered Bank, said demand for gold and other precious metals is projected to remain elevated in the coming years. The group expects potential gold price upside of about 20% within the year, forecasting gold prices at USD4,650, USD4,850 and USD5,150 per ounce for 2-4Q, respectively. AASTOCKS Financial News |
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