Investors in silver warned of wild prices
By Maggie Zhang |
June 1, 2011, Wednesday
|
Print Edition
Print Edition
INVESTORS of deferred trading in silver need to be alert to the wild price fluctuation of the metal, the Shanghai banking regulator warned yesterday.
They need to consider their investment and strategy prudently as they participate in deferred trading for silver, the Shanghai Bureau of the China Banking Regulatory Commission said yesterday in a statement.
The local banking regulator has asked banks to notify clients through text messages or calls about the temporary trading deposit increase from the Shanghai Gold Exchange, which is trying to curb risks on the wildly fluctuating price. The local banking regulator said it has worked with banks to ensure that investors fully understand trading risks and cut leverage on the metal to avoid huge losses.
Silver prices tumbled 25 percent in the first two weeks of May at the Shanghai Gold Exchange, China's sole bourse for trading precious metals such as gold and platinum.
Silver bounced back last week when prices rose 7.9 percent for July delivery.
They need to consider their investment and strategy prudently as they participate in deferred trading for silver, the Shanghai Bureau of the China Banking Regulatory Commission said yesterday in a statement.
The local banking regulator has asked banks to notify clients through text messages or calls about the temporary trading deposit increase from the Shanghai Gold Exchange, which is trying to curb risks on the wildly fluctuating price. The local banking regulator said it has worked with banks to ensure that investors fully understand trading risks and cut leverage on the metal to avoid huge losses.
Silver prices tumbled 25 percent in the first two weeks of May at the Shanghai Gold Exchange, China's sole bourse for trading precious metals such as gold and platinum.
Silver bounced back last week when prices rose 7.9 percent for July delivery.
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