New Start: Gold Futures in China
The Gold Futures will be launched on January 9, 2008 in Shanghai Futures exchange. SFE is one of China's major futures trading agencies.
The launch of the Gold Futures provides another choice for gold investors. It's also good news for the gold producers against the fluctuating global market.
According to the announcement of the SFE, financial institutions, gold producers and investors can trade with the Gold Future. This is the first time trading is possible in Gold Futures on mainland China.
In the year of 2006, China produced 240 tons of gold.
Last year, China produced a record 260 tons compared to the US amount of about 250 tons. China has become the second largest gold producing country in the world, and might be the first in the coming 5 years.
Gold Futures is the second new futures to be launched on mainland China. The first one was Zinc Futureswhich was launched on March 26, 2006.
Gold Futures, golden future.
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