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Shanghai Gold Exchanges to raise trading margin, limits for gold contracts

07/22/2020 | 06:56am EST
FILE PHOTO: The Sicpa Oasis validator system is pictured over one kilogram bar of gold at Swiss refiner Metalor in Marin

China will raise margin requirements for its gold contracts from the settlement of July 23 due to recent gold price fluctuations, the Shanghai Gold Exchange (SGE) said on Wednesday.

The margins for gold contracts Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06 and NYAuTN12 will be raised to 9% from 8%, the SGE said in a notice on its website.

The exchange will also change trading limits for gold contracts to 8% from 7% starting July 24 and warned members to invest rationally and "reasonably" control the scale of positions, it said.

(Reporting by Min Zhang and Tom Daly; Editing by Toby Chopra)


© Reuters 2020
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