Shanghai Gold Exchange is Adding Silver

The Shanghai Gold Exchange which deals mainl with gold and platinum spot contracts announced that it will begin trading spot and spot deferred silver contracts within about a month.

This follows the rapidly developing silver market that is happening in China. China consumes as well as produces massive amounts of silver. Since 2000 the country has increased production by roughly 10% per year. Consumption of the metal in Jewelry and Industrial applications has increased nearly 35% over the past two decades with most of the growth coming in the latest decade.

Growth in both these areas is expected to rise.

The other exchange in Shanghai dealing with silver contracts is the White Platinum and Silver Exchange (WPSE) which deals mainly with silver contracts and speculation on silver.

Opening the Shanghai Gold Exchange to silver trading opens a whole new market reach for the precious metal silver and will allow more trades to occur on a daily basis bringing more popularity to the metal.

For more information check out the People’s Daily article on silver at Shanghai Gold Exchange.