Laos expands domestic precious-metals market and seeks Japanese assistance
What happened
Laos is expanding its domestic precious-metals market infrastructure, including refining capacity, through the Lao Bullion Bank. The bank, which was established in 2024, has signed a memorandum of understanding with the Japan Bullion Market Association. Laos is also seeking assistance from Japan to further develop its precious-metals market.
From zerohedge.com
Why it matters
Gold-producing nations are increasingly protecting their resources by refining and holding mined gold domestically. Laos's initiative aims to increase the share of gold in its foreign-exchange reserves and provide a trusted venue for citizens to buy and sell gold.
An agreement was signed to foster gold market cooperation, which strengthens financial market linkages for participants in Laos.
From zerohedge.com
Who's involved
- LaosThe nation is building facilities to process its own production and expanding its domestic precious-metals market.