MARKET REVIEW OF THE SHANGHAI GOLD EXCHANGE IN SEPTEMBER 2003

 

With 22 trading days in September, the Shanghai Gold Exchange recorded a transaction of 19,306 kilograms of gold and 2,449 kilograms of platinum. The traded value exceeded that of August by 7.28% to 2.421 billion yuan, of which platinum amounted to 474 million yuan, 19.6% of the total. The turnover of financial clients' principal business accounted for 21.88% of the grand total. The trading volume by gold consumer members went up by 25% over last month.

 

Prompted by the dropping US exchange rate and the intensifying geopolitical situation, the international gold price maintained its growth momentum since last month, hitting US$393.60 per ounce in mid-September with a monthly increase of 2.5%.

 

Au99.95 opened the month at 99 yuan and witnessed a high of 103.30 and a low of 98.45, closing the month at 101.99, up 4.2%. The price gap of Au99.95 from the international real time price was between -0.85 to 0.35 yuan this month. The international platinum price registered a moderate decline. The weighted average price for platinum in September stood at 193.58 yuan, 2.22 yuan more than last month.

 

The clearing capital in September was 4.579 billion yuan, up 3.57% over August. As compared with last month, the clearing volume of gold increased by 24.21% to 11,927 kilograms, while that of platinum reached 2,593 kilograms in September, up 71.84%. The clients in the SGE reached 401 with 37 new entrants.