Kyrgyzstan Blocked From London Gold Trading Over Missing Bars

The group that oversees London’s gold buying and selling blocked steel mined in Kyrgyzstan from coming into the town’s market, dealing a blow to the central Asian nation’s bullion-dependent financial system.

The London Bullion Market Affiliation mentioned Friday it had suspended Kyrgyzaltyn OJSC, Kyrgyzstan’s state-owned gold producer, from its record of acceptable refiners. The record units requirements in London’s gold market, one of many world’s largest, and is considered a world benchmark. Merchants and officers have mentioned the transfer will probably limit Kyrgyzaltyn from promoting bars in different gold hubs together with Switzerland and New York.

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