Exchange Fund weighs bigger gold holdings to support Hong Kong’s trading hub plan

Hong Kong’s Exchange Fund, the war chest used to defend the local currency, is considering increasing its exposure to gold and other precious metals as part of the government’s push to develop the city into a gold trading hub. Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man said on Thursday that the Exchange Fund would continue to invest mainly in US dollar assets to support the Hong Kong dollar’s peg with the US currency. Yue said the Exchange Fund could increase its...