ON TUESDAY, the Shanghai Gold Exchange issued the basic prices for gold trading in renminbi. This not only shows China is further opening up its gold market, but will also lead to better defending of domestic gold buyers' rights and interests, commented Beijing Youth Daily on Wednesday:

Who will decide the prices of commodities in the market, the buyer or the seller?

That depends on who has the higher bargaining power. The more the buyer purchases, the higher his or her bargaining power is.