via Bloomberg - ICBC Buys Vault

A major change is the creation of a new bullion bank for bullion trading on the open market. I expect that the ICBC will probably wind up trading in bullion right along with the major traders, but that the market will increase in size and volume, but not necessarily mean greater volatility in the gold price.

http://www.bloomberg.com/news/articles/2016-05-16/icbc-standard-bank-buys-vault-in-push-into-london-s-gold-market

-F6