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September 15, 2014

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Home » Business » Finance

Bourse’s golden additions

THE Shanghai Gold Exchange, the biggest physical bullion market in the world, will launch an international trading board in the city’s free trade zone on September 29.

The bourse will launch three yuan-denominated physical bullion spot contracts of 100 grams, 1 kilogram and 12.5 kilograms in the China (Shanghai) Pilot Free Trade Zone to attract overseas investors, Xu Luode, the exhange’s chairman, said at the China Gold Congress & Expo in Beijing last week.

The so-called “Shanghai Gold” pricing mechanism is set to be launched with the international board to boost China’s sway on global gold prices. The mechanism is similar to the Loco London Gold except that the price quoted for spot delivery is in yuan.




 

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