Gold trading volume up in China in first quarter

BEIJING - Gold trading volume climbed in China in the first quarter, the central bank said.

Gold trading volume on the Shanghai Gold Exchange (SGE) went up 2.6 percent to 9,579.04 tons in the first quarter, said a report issued by the People's Bank of China.

Gold trading value on the exchange stood at 3.69 trillion yuan ($550.75 billion) in the first quarter, up 5.2 percent year-on-year.

The price of gold of 99.99 percent pure or above on the SGE closed at 394.14 yuan per gram at the end of March, up 5.4 percent from that at the end of 2021.

The international gold price closed at $1,942.15 per ounce at the end of March, up 8.3 percent from that at the end of 2021, the report said.

The SGE, established in October 2002, provides trading, clearing, delivery and vaulting services for gold, silver and platinum.