China launches gold options as prices near six-year highs

Section:

By Emily Chow
Reuters
Friday, December 20, 2019

SHANGHAI -- China, the world's top bullion producer and consumer, launched its first gold options contract on the Shanghai Futures Exchange on Friday, adding to an array of investment options for the metal that saw prices hit six-year highs this year.

Gold prices globally have gained about 15 percent so far this year and are set for their strongest annual increase since 2010, as global growth concerns and uncertainties over the U.S.-China trade war boosted the metal's appeal as a safe haven.

... Dispatch continues below ...



ADVERTISEMENT

Buy, Sell, or Store Precious Metals with Money Metals

Money Metals Exchange, a national bullion dealer recently voted "Best in the USA" by a worldwide ratings group --

https://www.moneymetals.com/news/2015/02/03/worldwide-ratings-organizati...

-- is a great low-cost source for precious metals coins, rounds, and bars. Money Metals also pays handsomely when you wish to sell your precious metals.

Shop online with Money Metals Exchange here --

https://www.moneymetals.com/buy

-- or by calling 1-800-800-1865.

Meanwhile, Money Metals Depository will store your precious metals in a segregated account at low cost:

https://www.moneymetals.com/depository



The Shanghai Futures Exchange's most-traded gold futures contract for February 2020 delivery, which rose to its highest in six years in September, was up 0.3 percent at 335.72 yuan ($47.90) per gram this afternoon.

The exchange's most active April 2020 gold options contract for an exercise price of 336 yuan per gram had a call option at 9.14 yuan per gram and put option at 7.80 yuan per gram on Friday afternoon. ...

... For the remainder of the report:

https://www.reuters.com/article/us-china-derivatives-gold/china-launches...

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16