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Friday, October 11, 2024

Home Business China’s benchmark interbank gold prices lower

China’s benchmark interbank gold prices lower

by News desk
February 8, 2024
in Business

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China’s benchmark prices for spot interbank gold transactions were lower Wednesday, according to the China Foreign Exchange Trade System.

The benchmark price for gold that is 99.95 percent pure or above stood at 480.40 yuan (about 67.62 U.S. dollars) per gram, down 0.56 yuan from the previous trading day, while the price for gold that is 99.99 percent pure or above decreased 0.30 yuan to 478.81 yuan.

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.—Xinhua