The Shanghai Gold Exchange opens new opportunities
Gold as a financial asset
In 2002, China took yet another step toward becoming a leading gold-trading market by establishing the Shanghai Gold Exchange (SGE), which has since become the world’s largest physical gold exchange. Founded by the Chinese government, the SGE was designed to serve as the only official platform for gold in the country, with all gold imports, domestically mined gold, and recycled gold trading through the exchange. The establishment of the Shanghai Benchmark Gold Price in 2016 provided investors around the globe with a fair, transparent, and tradeable benchmark gold price denominated in RMB. In 2019, there were 1,169 tonnes of gold transactions quoting the Shanghai Gold Benchmark Price at the SGE — 600 tonnes higher than 2016.
Read more on the Financial Times and Goldhub.