China Construction Bank Corp. will become the second Chinese bank to join the group of lenders setting the benchmark used to price billions of dollars' worth of daily gold trades, in another move by the country to take a more active role in the way the world's securities are traded.
Gold futures settled Wednesday at their lowest level in just over a week after falling for a third straight session, as a jump in U.S. equities and strength in the dollar lured investors away from the precious metal.
Gold futures fell on Tuesday as speculation that Greece and its creditors could strike a last-minute deal positioned prices for their lowest settlement in more than three months.
Société Générale SA is picking apart Bache--a commodities house and the last link to a historic Wall Street name--in another sign of how trading in raw materials has fallen on hard times.
