July 2007 individual gold business will be promoted throughout the country – gold jewelry – Jewelry Industry
Individuals can more freely participate in the gold trade, personal speculation gold will also enter the full Investment Age
Previously, only individual gold business in the Shanghai branch of ICBC pilot. This time, Kim also plans to pay the other Business Bank Also included in the scope of individual gold trading. Currently, Industrial, China, Shenzhen Development Bank, ICBC, Agricultural Bank of China and a number of banks are actively preparing for.
Few days ago, reporters from a member of Shanghai Gold Exchange was informed, early in July to promote the individual gold in the national business will include gold, silver and Platinum Three series of species, which gold has: Au99.99, Au100, Au99.95, Au50, Au (T + D), Au (T +5), Pt (T +5); silver include: Ag (YQ ); platinum as Pt99.95.
Previously, only individual gold business in the Shanghai branch of ICBC pilot. This time, Kim also plans to pay the other commercial banks are included in the scope of individual gold trading. Currently, Industrial, China, Shenzhen Development Bank, ICBC, Agricultural Bank of China and a number of banks are actively preparing for. The industry believes that the introduction of individual gold business, individuals can more freely participate in the gold trade, personal fried golden era of investment will also be entered.
The members provide the latest news, "the Shanghai Gold Exchange Trading Rules" (the "Exchange Rules"), the trading margin on each contract, trading units and so do the detailed provisions. Among them, the trading hours every Monday to Friday (except national holidays) and 10:00-11:30; 13:30-15:30; 21:00-02:30. Individual gold business transactions to take the free offer and match two trading in the contract price except the smallest changes in Ag (YQ) to 1 yuan / kg, the other are 0.01 yuan / gram.
On the trading unit, "Trading Rules," which stipulated, Au99.99, Au100 100 g / hand, Au50, 50 g / hand, the other was 1 kg / hand.
On trading margin, Au99.99, Au100, Au99.95, Au50, Au (T + D), Au (T +5) and other products are 100%; spot extension product Au (T + D) 7 %; Au (T +5), Pt (T +5), Ag (YQ) was 10%; platinum products Pt99.95 of 107%.
Suzhou investment gold analyst Chen Yiqun, said to this reporter, "Pt99.95 margin as high as 107% the reason is fear of risk of price fluctuation is too large to breach of contract when one party is not closing, the exchange can be deducted its 7 % of the liquidated damages. "
Last year, the Shanghai Gold Exchange, gold in the promotion of personal business "with the three strategies." First of all, the new trading products on-line?? Au100g; and promulgated the "Shanghai Gold Exchange individual physical gold trading pilot scheme", allowing individuals to participate in the gold exchange Au99.99, Au100g species and other people's bank, agreed to by the individual open trading products or transactions; to extract gold in the minimum individual threshold of 1,000 grams from 100 grams down. But the pilot period, only Industrial and Commercial Bank of China Shanghai Branch is the designated exchange bank.
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