Fund launches & closures

US dollar silver futures trade in Hong Kong

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Hong Kong is making a bid to become a major centre for trading US-dollar silver futures contract. The fledgling Hong Kong Mercantile Exchange says that trading of the contract began on July 22, 2011, diversifying offerings at the commodities exchange, which introduced gold futures trading two months ago.

Besides enabling buyers and sellers in China to trade effectively with their counterparts across the world, it will allow investors to gain exposure to silver price movements and broaden their investment portfolio. The new contract will trade in units of 1,000 troy ounces and be deliverable in Hong Kong. It