Gold Exchange To Start Silver Trade -
UPDATED: 08:50, June 30, 2006 SHANGHAI: Shanghai Gold Exchange is about to introduce -
Silver Trading -
for the first time after months of planning.
The regulatory framework for trading silver contracts
will be completed as early as next month, said Tong Gang,
the exchange's spokesperson.
The launch underscores the rapid development of the silver
market in China, which is widely regarded as potentially
the most important consumer, producer and exporter of
The exchange, which currently deals with platinum as well
as gold, is expected to trade silver spot and spot-deferred
Spot contracts are ones that require payment at the time
of purchase; spot-deferred contracts require payment
a few days after the contract has been made. Silver futures contracts could also be traded on the exchange.
The country's silver consumption, mainly used by electronics
and chemical firms, was estimated at 2,600 tons last year.
This compares with only 900 tons two decades ago. Silver production in China has been soaring at 10 per cent
annually since 2000, when the State monopoly covering the
purchase and marketing of the metal ended.
Last year production reached 6,000 tons. The launch of silver trading may put the gold bourse in
competition with the Shanghai White Platinum & Silver
Exchange (WPSE), also known as
the Huatong exchange, currently China's
only official spot silver trading centre.
But WPSE's Liang Haifeng said:
"The gold exchange will deal mainly in futures contracts
which will attract more speculators than spot silver buyers."
Huatong's monthly silver transaction volume now stands
at more than 30 tons.
The global price of silver has fallen by 30 per cent since
April, when it hit a 22-year high.
At the WPSE yesterday the price of silver closed at 2,960 yuan
(US$370) per gram, down from around 3,400 yuan (US$425)
In a separate development, it was reported that
the New York Mercantile Exchange (Nymex) is hoping to begin
trading gold futures contracts in China, possibly at
Shanghai Gold Exchange.
John Hanemann, of Nymex's commodity exchange division,
was quoted by the Wall Street Journal as saying his bourse
had been in talks about launching gold futures contracts
with Chinese exchanges.
Shanghai Gold Exchange spokesman Tong said he was not aware
of any talk with Nymex.
Source: China Daily Your greatest edge is your small size.
So, the biggest reason that bonds are going down in value -
is that the bond market is too big! $30 trillion?
And the biggest reason why silver is going up in value -
is because the silver market is so small! $1-5 billion? Btw. if You have a more correct number than Yahoo and
quotemedia.com, please present them to the Shareholders,
with the Shareholders help we can keep it up to date -
we don't want to be egoistic well we will help each other
to get accurate info,
Silver Companies > Market cap's (updated);
Cerro Rico, or “Rich Mountain” -
The Worlds Richest Silver Mine -
has been mined for nearly -
- 1000 years.
Silver Companies > Market cap's (updated);
FMNJ - Franklin Mining, Inc. = $37 MILLION http://www.investorshub.com/boards/board.asp?board_id=2957
ECU - ECU Silver = $459 MILLION http://www.tsx.com/HttpController?GetPage=QuotesViewPage&DetailedView=DetailedPrices&Languag...
HL - Hecla Mining Co = $606.62 MILLION http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=64251&qm_symbol=hl
SIL - Apex Silver Mines Ltd. = $882.55 MILLION http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=44424&qm_symbol=sil
SLW - Silver Wheaton Corp. = $1.86 BILLION http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=48684&qm_symbol=SLW
SSRI - Silver Standard Resources Inc. = $1.08 BILLION http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=835&qm_symbol=Ssri
CDE - Coeur d'Alene Mines Corp = $1.31 BILLION http://www.investorshub.com/boards/quotes.asp?ticker=cde
PAAS - Pan American Silver Corp. = $1.21 BILLION http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=54157&qm_symbol=paas
UNCN - Unico Inc. = $797.49 Thousand? / Less than $10 MILLION http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=38242&qm_symbol=UNCNe http://www.investorshub.com/boards/board.asp?board_id=177
Including - The Silver Bell Mine -
Silver Bells, Silver Bells.... http://www.always-safe.com/silverbells.html http://www.investorshub.com/boards/board.asp?board_id=5406