THE world’s most influential gold market authority is threatening to stop bullion from countries including the United Arab Emirates (UAE) entering the mainstream market if they fail to meet regulatory standards, a letter seen by Reuters showed.
In the letter dated Nov 6 addressed to countries with large gold markets, the London Bullion Market Association (LBMA) laid out standards they must meet on issues such as money laundering and where they source their gold – or be blacklisted.
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