MARKET REVIEW OF THE SGE IN SEPTEMBER 2004

In September, the Shanghai Gold Exchange traded 62,467.1 kilograms of gold. The gold traded in the first nine months 2004 increased by 40.96 per cent year-on-year to 463,012.80 kilograms, with the trading value up 60.17 per cent to 49.687 billion yuan. Platinum traded in the SGE was 2,708 kilograms in September. From January to September the SGE recorded 20,644 kilograms of platinum trading, valued at 4.775 billion yuan.

In September global gold price was pumped up by weak dollar and soaring oil price, with a month high and low of US$418.90 and US$394.53. The international platinum price remained in fluctuation, moving between US$822 and US$874.

Au99.95 in the SGE opened the month at 108.50 yuan per gram, and closed at 108.55 yuan, up 0.51 per cent. Platinum opened the month at 237.95 yuan per gram, and had a month-close of 235.10 yuan, down 1.35 per cent.

In September, the clearing volume for gold and platinum was 19,557 kilograms and 1,374 kilograms respectively. The clients in the SGE reached 670 with 20 new entrants. The principal and agent turnovers were 4.771 billion and 2.599 billion yuan respectively.