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Since Thursday, Shanghai’s new gold futures exchange has added fresh fuel to the gold bull, pushing prices to new all-time highs since trading began. China’s first gold futures contract surged by its 10 percent daily limit on trading debut – on a day that the spot price of gold hit a record US$891 (HK$6,949. However, prices are expected to be pushed up further with the addition of a new trading center and more demand within the country, a spokesperson at the Chinese Gold and Silver Exchange Society said. The start of futures trading in Shanghai is one of the biggest events in the gold market over past few years, which also saw the launch of gold exchange- traded funds. read more

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