China becomes globally largest gold spot trading market for eight years running: SGE

SHANGHAI, July 9 (Greenpost) — China has become the globally largest spot trading market of gold for the eighth consecutive year, according to the Shanghai Gold Exchange (SGE) on Thursday.

The SGE data shows that transaction volume in the bourse increased by 151 percent year on year in the first half of 2015. In a breakdown, the SGE’s gold transactions jumped 166 percent year on year to 17,520 metric tons (tonnes), and silver transactions surged 151 percent year on year to 380,000 tonnes.

The international board of the SGE has so far seen accumulative gold transactions stand at 4,764 tonnes and silver transactions stand at 525 tonnes.

The SGE launched the gold international trading board on September 18, 2014. It is the first international financial asset transaction platform launched in the Shanghai free trade zone (FTZ).

As the only legal gold spot trading market in China approved by the country’s central bank, the SGE has become the global largest gold spot trading on-floor bourse for the eighth consecutive year. Rankings of its gold and silver transactions among global exchanges have increased continuously, said an official of the SGE. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson