Gold sales in Shanghai reached a record level

The volumes of trading in gold and silver on the Shanghai Futures Exchange (SHFE) jumped to a record level a week after the start of the exchange at night. It is reported by Reuters.

The Shanghai Exchange, the largest in China, opened a trading in gold at night from July 5 so that investors could participate in operations simultaneously with London and New York. From this moment, the growth of the volume of trading operations with gold ingots doubled compared to the previous week - up to 2 million 60 thousand lots. The number of daily transactions with gold increased by a quarter by setting on Thursday the absolute record of the Shanghai futures exchange of 595 thousand 642 lots sold.

"Gold trading can help investors adjust their positions before the volatility of foreign markets, while the liquidity of the gold trading looks impressive," analysts say.

Unlike other exchanges, Shanghai collects a commission on both sides of the transaction. After a successful undertaking with gold, the exchange intends to open nighttime tenders and under some other contracts. In particular, the possibility of trading at night by all non -ferrous basic metals and steel is considered.