SGE Gold Trading
Shanghai Gold Exchange gold contract prices and trading data
About SGE Gold Contracts
The SGE offers four gold contracts: Au99.99 and Au99.95 are spot contracts for 99.99% and 99.95% purity gold respectively, with physical delivery through SGE vaults. Au(T+D) is the exchange's flagship deferred settlement contract, allowing leveraged positions with daily carrying charges. mAu(T+D) is a mini version of Au(T+D) with a smaller contract size, designed for individual investors. Prices are quoted in CNY per gram.
Frequently Asked Questions
- What is Au99.99 on the SGE?
- Au99.99 is the SGE's primary gold spot contract, trading gold with 99.99% purity (24 karat). Prices are quoted in Chinese yuan per gram. Physical delivery occurs through SGE-certified vaults. It is the reference contract for Chinese domestic gold pricing.
- What is the difference between Au99.99 and Au(T+D)?
- Au99.99 is a spot contract requiring immediate delivery and full payment. Au(T+D) is a deferred settlement contract — similar to a perpetual future — where positions can be held indefinitely with a margin deposit and daily carrying fees. Au(T+D) has higher volume and open interest, making it the preferred contract for speculative trading.
- How is the Shanghai Gold Benchmark set?
- The Shanghai Gold Benchmark (SHAU) is determined twice daily through a centralized auction on the SGE. Participating members submit buy/sell orders, and the benchmark price is set where supply matches demand. The AM fixing occurs around 10:15 AM CST and the PM fixing around 2:15 PM CST.