Bank of China offers gold options, silver forwards


From Reuters
Tuesday, November 7, 2006

BEIJING -- The Bank of China said on Tuesday it is offering gold options to individual account holders and silver forwards and silver leasing to its corporate account holders.

Some Chinese banks already offer "paper gold" and other gold-related investment tools to attract deposits from increasingly prosperous domestic clients.

"In light of more volatile gold prices and to protect against rising risk in gold products tied to settlement prices, the Bank of China has offered its clients a new risk-management tool," it said in a press release on Tuesday.

Gold prices hit a two-month high on Monday, as sentiment on the U.S. dollar weakened. Gold and silver both hit a 25-year high in May of this year.

The Shanghai gold exchange launched a silver contract last month. International silver prices also hit a two-month high this week.

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