This report (by reporters Yang Qun and Lu Qiwen, intern Wu Ruiqi): Following London and New York, the global gold market is poised to see the emergence of... “ Third Pole ” Yesterday, the Shanghai Gold Exchange released the world’s first gold benchmark price denominated in RMB. ——“ Shanghai Gold ” Pricing. Yesterday morning 10 time 15 Points, “ Shanghai Gold ” The initial benchmark price is set at 256.92 Yuan / K. This also follows... 2014 Year 9 The launch of the International Gold Board by the Shanghai Gold Exchange marks another milestone in the internationalization of China’s gold market.

“ Shanghai Gold ” Pricing business refers to, on the platform of the Shanghai Gold Exchange, the practice of... 1 Kilograms, with a fineness of no less than 99.99% The standard gold ingots are the trading objects, denominated in RMB. / The k is the trading unit, conducted through multiple rounds. “ Price-driven demand ” The centralized trading approach, after achieving a relative balance between market volume and price, ultimately leads to the formation of... “ Shanghai Gold ” The benchmark price of the Renminbi. The Shanghai Gold Exchange is responsible for the system development and operation & maintenance of the pricing platform, as well as for supervising and managing the entire pricing process to prevent price manipulation and ensure the fairness of prices.
     As China’s gold market continues to open up, the Asia-Pacific region—led by China—has gradually become a globally significant hub for both gold production and consumption. Consequently, global investors are increasingly seeking trading and price-risk management solutions for gold products denominated in RMB. In response to domestic and international trends in the gold market, the Shanghai Gold Exchange has developed and launched this centralized pricing mechanism for gold, which is denominated, traded, and settled in RMB.
      Launch “ Shanghai Gold ” The pricing mechanism represents both an important attempt by China to innovate and open up its financial factor markets and actively integrate into the global integration process, as well as China’s response to the profound transformations occurring in the international gold market and the global gold market at large. “ Westward shift of the Jin dynasty ” An inevitable requirement of development trends. “ Shanghai Gold ” The benchmark price will provide global investors with a fair and tradable RMB-denominated gold benchmark price, offering gold market participants robust risk management and innovative tools. This will help further refine the price formation mechanism of the RMB gold market and accelerate the internationalization of China’s gold market.
“ Shanghai Gold ” The introduction of the pricing mechanism is also a vivid example of Shanghai’s dynamism in institutional and systemic innovation. For Shanghai to continue serving as a vanguard of reform and opening-up and a pioneer of innovative development, it will be indispensable to rely on the active exploration and proactive innovation of various market participants, including those in financial markets.
      It is reported that the Shanghai Gold Exchange will shift from a trading model primarily based on spot transactions to one that equally emphasizes both spot and derivative trading. It will also move from a focus on commodity attributes alone to a balanced emphasis on both commodity and financial attributes, and from being dominated by the domestic market to a more balanced approach that integrates both domestic and international markets, thereby fostering the development of a multi-tiered and more open Chinese gold market system.
     Related reports: “ Shanghai Gold ” Reshaping the Global Gold Pricing System – Published 4 Edition◆

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   Liberation Daily: “ Shanghai Gold ” The initial benchmark price is set.