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- Trade in gold jumps in China
Date: 15-Jan-2007 Sources: (Xinhua Online)
Chinese investors traded enthusiastically in gold last year, according to the latest figures from the Shanghai Gold Exchange.
Information from the exchange shows that in 2006 turnover in the precious metal reached 194.75 billion yuan (25 billion U.S. dollars), up 82 percent over 2005.
A total of 1,250 tons of gold were traded, up 38 percent year on year.
Higher gold prices have boosted trading volumes.
Against a background of increasing international prices, domestic gold price rose from 130 yuan per gram at the beginning of 2006 to over 150 yuan per gram currently. In the middle of the year, prices peaked at 200 yuan per gram.
Since the Shanghai Gold Exchange started operation in Oct. 2002,gold trading has become one of the preferred investment options of Chinese citizens together with foreign exchange, stocks and futures.
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