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Article: 4th LD-Writethru-China Focus: China gold futures trading makes strong debut
- Article from:
- Xinhua News Agency
- Article date:
- January 9, 2008
CopyrightCopyright 2008 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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4th LD-Writethru-China Focus: China gold futures trading makes
strong debutby Xinhua writer Wu Qiong
BEIJING, Jan. 9 (Xinhua) -- With world bullion prices hitting new
highs, gold futures made a strong debut on the Shanghai Futures
Exchange (SFE) on Wednesday. The contract offers China a chance to
become a key player in the global gold market. It could also be a
hedging tool for gold producers and a means to absorb excess
liquidity, analysts said.
The key contract for June delivery was the first to take off,
surging 9.98 percent to 230.95 yuan (about 31.65 U.S. dollars) per
gram. This was followed by the daily limit rise of other contracts
for July-to-December delivery.
Seven contracts were ...