PBoC Deputy Governor supports the development of Hong Kong's gold market, strengthening its offshore RMB market functions

The PBoC Deputy Governor's support for Hong Kong's gold market development suggests a deliberate effort to enhance the offshore RMB's liquidity and usability, potentially increasing demand for gold in that currency.

Newsquawk StaffPublished 26 Jan 2026, 08:23 UTCOn the live feed at 08:03 UTC — 4 more headlines followed before this page went public

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08:10

EUROPEAN OPEN: VOW3 GY won’t proceed with US Audi plant unless auto tariffs are reduced; BN FP recall after spread from NESN SW products; RYA ID beats expectations, raises guidance; GLEN LN, RIO LN, SHEL LN downgraded

08:05

European Movers: TotalEnergies (TTE FP) +1.0%, Rheinmetall (RHM GY) +1.0%, Ryanair (RYA ID) -1.0%, Volkswagen (VOW3 GY) -1.0%, EssilorLuxottica (EL FP) -2.0%, Danone (BN FP) -2.6%

08:03

PBoC Deputy Governor supports the development of Hong Kong's gold market, strengthening its offshore RMB market functions

08:02

Barclays month-end rebalancing model indicates no strong USD directional bias vs most majors, with a weak USD buying signal vs the EUR

08:00

Spanish PPI YoY (Dec) Y/Y -3% (Prev. -2.5%)

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Context

This move could strengthen the RMB's position in global markets, influencing both commodity prices and fixed income dynamics as investors seek safe havens amid ongoing geopolitical tensions. Overall, it indicates a broader policy strategy aimed at elevating the role of the RMB in international finance.

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