MARKET REVIEW OF THE SHANGHAI GOLD EXCHANGE IN NOVERMBER 2004

In November, the Shanghai Gold Exchange traded 75,769.5 kilograms of gold. The gold traded in the first eleven months 2004 increased by 42 per cent year-on-year to 591.22 tons, with the trading value up 60.76 per cent to 64.352 billion yuan.

Platinum traded in the Exchange was 1,952 kilograms in November. From January to November the SGE recorded 25.14 tons of platinum trading, valued at 5.814 billion yuan.

In November, global gold price was pumped up by weak dollar, with a month high and low of US$416.63 and US$455.10. The international platinum price remained in fluctuation, moving between US$821 and US$879.

Au99.95 in the SGE opened the month at 113.30 yuan per gram, and closed at 120.16 yuan, up 6.37 per cent. Platinum opened the month at 228.88 yuan per gram, and had a month-close of 237.29 yuan, up 3.61 per cent.

In November, the clearing volume for gold and platinum was 22,007 kilograms and 1,078 kilograms. The clients in the SGE reached 702 with 14 new entrants. The principal and agent turnovers were 5.669 billion and 3.601 billion yuan respectively.