SHANGHAI -
The Shanghai Gold Exchange has registered transactions of
more than 10,000 kilograms of gold.
The
exchange began trading a month ago and the value of
the transactions totaled 878 million yuan (US$106
million). In the 21 deals in November alone, 6,135kg of gold was
traded, an exchange executive said.
The gold
price on the exchange has risen by a big margin
recently, similar to the price hike on the international
gold market.
Lu Xiaoyin, a dealer from the
Shanghai Laofengxiang Jewelry Research Institute, said
the increasing demand for gold on the domestic market
and price hike on the international market helped raise
the price on the Shanghai exchange.
At present,
the Shanghai exchange has 108 members from around the
country. They include 13 commercial banks, 24 gold
mines, 61 consumer companies, eight refineries and two
mints. Only members can trade in the exchange.
