BEIJING, Nov 5 (XINHUA/APP):Gold trade in China surged in the first three quarters of this year as prices ticked up, according to the China Gold Association (CGA).
The trading volume of gold futures on the Shanghai Futures Exchange soared 213.8 percent year on year to around 70,800 tonnes in the January-September period, with a total turnover of 22.7 trillion yuan (about 3.2 trillion U.S. dollars), up 268.4 percent, CGA data showed.
During the period, the trading volume of all gold products on the Shanghai Gold Exchange (SGE), which trades spot gold, totaled 54,900 tonnes, up 10.7 percent, with their combined turnover climbing 26.4 percent to 16.9 trillion yuan.
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The CGA attributed the trade growth to gold price rises during the period, especially in the third quarter, which drew increased investment from institutions and individuals.
The global gold price averaged 1,367.41 U.S. dollars per ounce in the first three quarters, up 6.5 percent year on year. Meanwhile, the average price of the Au9999, a highly refined pure gold, on the SGE went up 11.7 percent year on year, according to the CGA.
