MARKET REVIEW OF THE
SGE IN OCTOBER 2004
In October, the Shanghai Gold Exchange
traded 52,434.3 kilograms of gold. The gold traded in the first 10 months of
2004 increased by 39.54 per cent year-on-year to 515.45 tons, with the trading
value up 57.98 percent to 55.533 billion yuan. 2,544 kilograms of platinum was
traded on the SGE in October. From January to October the SGE recorded 23.19
tons of platinum trading, valued at 5.362 billion yuan.
In
October, the global gold price continued to increase due to soaring oil prices
and a weak dollar, with a monthly high of US$430.60, and a low of US$408.93.
The international price of platinum continued to fluctuate, moving between
US$815 and US$870.
Au99.95
on the SGE opened the month at 110.45 yuan per gram, and closed at 112.96 yuan,
up 4.09 per cent. Platinum opened the month at 231.75 yuan and closed at 229.03
yuan, down 2.58 per cent.
In
October, the clearing volume for gold and platinum was 14,586 kilograms and
1,167 kilograms, respectively. The number of clients of the SGE reached 688,
with 18 new entrants. The principal and agent turnovers were 4.05 billion and
2.384 billion yuan, respectively.