GOLD MARKET IN NOVEMBER 2002

There were 21 trading days in November. The trading volume reached 6,135 kilograms with a total turnover of RMB 522 million yuan. Au99.95 traded 4,896 kilograms with the price ranging from RMB 84 yuan to RMB 85.85 yuan per gram， and the average trading price was RMB 85.05 yuan per gram. 1,266 kilograms of Au99.99 was traded at the prices between RMB 84 yuan and RMB 86.3 yuan per gram with an average trading price of RMB 85.17 yuan per gram.

The gold market performance showed the following characteristics. Firstly, the trading volume had increased but not to a great extent. Secondly, the trading price was close to, and in some trading days even a little higher than, that of the international gold market. Thirdly, commercial banks participated in the gold market, partly for investment aims. Fourthly, after the break-in period, members became more acquainted with the business. Meanwhile, Shanghai Gold Exchange reinforced the training for members to improve their operating skills. Fifthly, the market transaction, storage, and clearance systems performed smoothly, basically meeting the members' requirements. In order to provide better service for members and market development , the SGE will give priority to the cultivation of market participants, perfecting market management, expanding trading varieties, and putting the related policies into effect.