SGE Gold Futures Product Overview
China is one of the largest producers and importers of gold, and Shanghai is a key physical trading hub for the Asian gold market.
The Shanghai Gold Price is the Renminbi spot Gold benchmark, generated by spot auctions held at Shanghai Gold Exchange twice daily. Since its introduction in 2016, the Shanghai Gold regional benchmark has attracted increasing interest from investors around the world.
CME Group and the Shanghai Gold Exchange (SGE) have agreed to expand the use of the Shanghai Gold Price – resulting in two new Shanghai Gold benchmark-based futures contracts available to global customers through CME Group.
Shanghai Gold futures will be the first joint product offering between CME Group - the world’s most liquid precious metals derivatives market, and SGE – the largest physical gold exchange.
SGE Gold futures will launch on COMEX during the third quarter of 2019. The two Shanghai Gold futures, will be US dollar- or Chinese renminbi-denominated. Market participants can choose the best currency denomination for their needs with flexible USD or CNH offerings.
Similar to the flagship COMEX Gold futures contract, the Shanghai Gold futures contracts will be listed for the current month, the next two calendar months and each February, April, June, August, October and December within the 12-month period.
The contract size of both products is 1 kilogram per lot and are cash-settled, with the final settlement price based on the Shanghai Gold Benchmark PM price at 2:15 p.m. China time.
Listed on CME Globex and CME ClearPort, Shanghai Gold futures will trade Sunday through Friday, almost 24 hours per day - longer trading hours than any other Asian exchange. Significant margin offsets will be available for those interested in trading or spreading Shanghai Gold futures versus other contracts in CME Group’s suite of Precious Metals or FX futures.
Discover Shanghai Gold Futures contracts, allowing efficient access to one of the world’s largest physical gold markets from anywhere in the world.