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China launches gold options as prices near six-year highs
By Emily Chow
Reuters
Friday, December 20, 2019
SHANGHAI -- China, the world's top bullion producer and consumer, launched its first gold options contract on the Shanghai Futures Exchange on Friday, adding to an array of investment options for the metal that saw prices hit six-year highs this year.
Gold prices globally have gained about 15 percent so far this year and are set for their strongest annual increase since 2010, as global growth concerns and uncertainties over the U.S.-China trade war boosted the metal's appeal as a safe haven.
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The Shanghai Futures Exchange's most-traded gold futures contract for February 2020 delivery, which rose to its highest in six years in September, was up 0.3 percent at 335.72 yuan ($47.90) per gram this afternoon.
The exchange's most active April 2020 gold options contract for an exercise price of 336 yuan per gram had a call option at 9.14 yuan per gram and put option at 7.80 yuan per gram on Friday afternoon. ...
... For the remainder of the report:
https://www.reuters.com/article/us-china-derivatives-gold/china-launches...
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