Hong Kong is set to launch a trial of its central gold clearing system in 2026, as announced by Financial Secretary Paul Chan Mo-po. The initiative aims to enhance the reliability and efficiency of gold trading and physical delivery, reduce transaction costs, and boost liquidity. This development comes amid a significant rise in gold's role as a central bank reserve and investment product, with prices surging over 60% in 2025. The Hong Kong Gold Exchange has seen a marked increase in activity, with the average daily trading volume of 99.99 fine gold more than doubling year-on-year to HK$2.9 billion by November 2025. The trial will also involve collaboration with the Shanghai Gold Exchange, reflecting Hong Kong's strategic efforts to strengthen its position in the global gold market.