BUSINESS China's benchmark interbank gold prices higher Monday

BUSINESS

China's benchmark interbank gold prices higher Monday

Xinhua

10:34, January 06, 2020

gold price.jpeg

Consumers browse gold jewelry at a store in Taiyuan, Shanxi province. (File photo: China News Service)

BEIJING, Jan. 6 (Xinhua) -- China's benchmark prices for spot interbank gold transactions were higher Monday, according to the China Foreign Exchange Trade System.

The benchmark price for gold of 99.95 percent pure or above stood at 346.77 yuan (about 50.13 U.S. dollars) per gram, 5.20 yuan higher from the previous trading day, and that for gold of 99.99 percent pure or above was 5.39 yuan higher at 347.30 yuan per gram.

Spot transaction prices on the interbank price inquiry market are allowed to rise or fall within 15 percent from the benchmark prices each trading day.

The interbank gold price inquiry business was introduced in 2012 to enhance market liquidity and enrich trading models. 

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