[Press Briefing on the Measures to Legalize Gold Trading Gray Market]

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The FSC’s director general of the Capital Markets Bureau gave a briefing to the press on the plan to establish gold exchange market as a means to legalize the current gray market for gold trading. According to the plan, a spot market so called ‘Gold Exchanges’ (tentative) will be established within the first quarter of 2014 while enforcing crack down on illegal transaction of gold through tax investigation. The FSC hopes that the measures will contribute in further developing the jewelry industry as well as providing a credible market to safely trade gold in reasonable prices.

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