Shanghai Gold Exchange (SGE)
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The Shanghai Gold Exchange (SGE) is one of the world's largest physical gold exchanges and plays a significant role in the global gold market. Established in 2002, it is based in Shanghai, China, and is responsible for the trading, clearing, and delivery of precious metals, primarily gold and silver.
The SGE was founded in October 2002 and officially began trading operations in October 2004. It was established to facilitate the development of China's domestic gold market, promote transparency, and provide a platform for gold trading, investment, and price discovery.
The Shanghai Gold Exchange is regulated and supervised by the China Securities Regulatory Commission (CSRC) and operates under the guidance of the People's Bank of China (PBOC).
It is a non-profit membership-based organization, and its members include financial institutions, gold producers, jewelry companies, and individual investors.
Spot Trading: The SGE conducts physical gold and silver spot trading, allowing members and market participants to buy and sell precious metals for immediate delivery. This spot market operates in both renminbi (RMB) and foreign exchange (FX) currencies.
Futures Trading: In addition to spot trading, the SGE offers and futures contracts that allow market participants to hedge against price volatility.
Delivery and Storage: The SGE oversees the delivery and storage of physical gold and silver. The exchange has designated vaults and warehouses for the secure storage of precious metals.
Price Benchmark: The SGE provides a benchmark gold price known as the "Shanghai Gold Benchmark Price" through a daily auction process, contributing to price discovery in the Asian region.
Internationalization: The SGE has taken steps to internationalize its operations by allowing foreign financial institutions to participate in trading and introducing international settlement services in designated free trade zones.
Regulation and Oversight: The exchange enforces strict rules and regulations to maintain market integrity, transparency, and investor protection.
Participants in the SGE include financial institutions, jewelry manufacturers, gold miners, refiners, individual investors, and institutional investors seeking exposure to gold and silver.
The SGE has gained prominence as one of the world's major gold trading hubs, contributing to the internationalization of the renminbi (RMB) as a currency for trading and settlement.
It is an essential component of China's efforts to develop and promote its domestic gold market and influence gold pricing in Asia.
Morning Trading Session: 9:00 AM to 11:30 AM (China Standard Time - CST)
Afternoon Trading Session: 1:30 PM to 4:30 PM (CST)
Morning Trading Session: 9:00 AM to 11:30 AM (CST)
Afternoon Trading Session: 1:30 PM to 4:30 PM (CST)
Night Trading Session: 8:00 PM to 2:30 AM (CST)
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