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As a world leading IoT platform and a partner in Alibaba Could’s smart cities initiative, Feifeng platform allows users to analyze different sets of data from a city, helping individuals make smarter decisions about future development.

As for other precious metals, silver for September delivery fell 1.5 cents, or 0.09 percent, to close at .426 per ounce. Platinum for October delivery jumped .20, or 1.44 percent, to settle at 03.50 per ounce.

As for EPS' expansion in the Asia-Pacific region, he stressed the importance and potential of the Chinese market. "It is a vast country with huge opportunities, and we have entered this market with a long-term view as we focus on quality above all," said Feldman.

As gold is priced in US dollars largely, the currency's index will reflect the yield rate of related US assets. Historical data indicates that the gold price will be under pressure if the US dollar index rises, said Zhao.

As a complement, China has signed intergovernmental agreements with 22 countries, including the US, Italy and Switzerland.