MARKET REVIEW OF THE SGE IN OCTOBER 2003

 

 

With 18 trading days in October, the Shanghai Gold Exchange recorded a total trading value of 2.21 billion yuan, 8.72 per cent weaker than that of September. The average daily gold transaction hit a record high of 1,137.22 kilograms, with a month total of 20,470 kilograms. Total platinum stood at 717 kilograms, showing a sharp decrease due to sluggish demand after the National Day Festival as international platinum prices rose.

 

Opening the month at 100.90 yuan, Au99.95 closed the month at 102.22, up 0.23%. Price gaps of Au99.95 from the international real time price were narrowed to a range between -0.77 and 0.25 yuan this month. The domestic platinum market witnessed a rising price and dropping turnover. The weighted average price for platinum in October stood at 201.48 yuan, 7.9 yuan more than last month.

 

Clearing capital levels in October were 4.409 billion yuan, slightly lower than the previous month. Delivered gold volume increased by 3.89% to 12,391 kilograms from last month, while delivered platinum volume slumped to 717 kilograms in October, dropping 72.35%.

 

SGE clients reached 425, with 30 new entrants. Trading among banking clients accounted for 37.93% of total trades for the month.