Trade volumes in spot and forward markets in China’s largest gold bourse ,the Shanghai Gold Exchange (SGE) surged, thanks to country’s investment frenzy in the metal.
The trading volume for silver was 73,615 tons in 2010, a meteoric 353 percent rise from a year ago.The SGE, China's only specialized precious metals exchange, started a trial of over-the-counter trading in April and is studying ways of establishing a platform to provide open gold lease rates in China.
Earlier, China National Gold Group said country’s move to consolidate the gold-mining sector, improve technology and encourage exploration at depths exceeding 1,000 metres would combine to boost underground reserves and output.
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