MARKET REVIEW OF THE SGE IN APRIL 2004

In April, the Shanghai Gold Exchange traded 25,315 kilograms of gold, up 31.96 per cent year-on-year. Platinum traded in the SGE was 2,102 kilograms. The total trading value was 3.262 billion yuan, slipping by 13.57 per cent from the previous month. Among that, the average daily trading volume for gold lost 16.69 per cent to 1,150.68 kilograms, while the average daily turnover for platinum soared by 65.23 per cent to 95.55 kilograms.

With international gold dipping from stronger dollar and dropping metals, Au99.95 in the SGE opened the month at 112.78 yuan per gram, and closed at 104.54 yuan, down 6.92 per cent. Pt99.95 opened the month at 249.00 yuan, and had a month-close of 219.75 yuan, losing 10.73 per cent.

The turnover for Au (T+5) this month was 554 kilograms, 2.19 per cent of the total volume of gold trading.

As compared with the previous month, the delivered gold volume decreased by 16.16 per cent to 16,516 kilograms; that for platinum was 2,062 kilograms in April, increasing by 72.84 per cent.

The clients in the SGE reached 593 with 24 new entrants.