China's gold-crazed masses will be allowed to trade in the precious metal under reforms that will upgrade trading on the country's nascent market, state media reported Tuesday. Trading in gold will provide another choice for individual investors who keep their money stashed in bank accounts due to a lack of desirable investment options, the official Xinhua News Agency cited the central bank governor, Zhou Xiaochuan, as saying. Trading by individual investors would unlock some of the 1.2 trillion yuan (US$145 billion; euro 119 billion) now kept idle in bank savings accounts, Zhou said. "China will speed up the opening of its gold market to bring gold exchanges more in line with international practice," Zhou was cited as telling an industry conference in Shanghai. "China's gold market will eventually become one inseparable part of the international gold market." Via Forbes
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