Shanghai Gold Exchange does brisk trading

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Last updated at: (Beijing Time) Thursday, December 04, 2003

Shanghai Gold Exchange does brisk trading

Shanghai Gold Exchange said its transactions went up by 20 percent to hit 2.67 billion yuan (321 million US dollars) in November.

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Shanghai Gold Exchange said its transactions went up by 20 percent to hit 2.67 billion yuan (321 million US dollars) in November.

According to the latest statistics available, 23.5 tons of gold were traded at the exchange, with the volume of business amounting to 2.44 billion yuan (about 300 million US dollars) in November alone, both records high since the exchange started operation on October 30 last year. An average of 1,173 kg of gold were traded each day.

In the meantime, 1,094 kg of platinum, worth 228 million yuan (27.5 million US dollars), were traded at the exchange in the past month, up by some 60 percent from October. And the average trading volume stood at 54.7 kg per day.

The gaps of prices for gold and platinum on the gold market in China and those on the world market are further narrowed, said the exchange sources.

In the past month, gold with a purity of 99.95 percent began the trading at 102.18 yuan per gram, and closed at 105.4 yuan per gram, with the hike range going to 3.11 percent. The weighted average price for gold was 103.95 yuan in November, up 3 percent from the previous month.

And the weighted average price for platinum was 208.08 yuan in November, up 3.28 percent from October.

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