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Dear Sir or Madam,
Shanghai Gold Exchange will suspend trading from September 3 (Thursday) to September 6 (Sunday), resume normal trading on September 7 (Monday) and conduct no night trading on the evening of September 2 (Wednesday), according to the spirit of the Notice of the State Council on Rest Day Adjustment and Holiday for the 70th Anniversary of the Victory of the Chinese People’s Anti-Japanese War and the World’s Anti-fascism War.
Shanghai Gold Exchange will adjust the margin ratios, limit-up band and limit-down band for the Au (T+D), Au (T+N1), Au (T+N2), mAu (T+D) and Ag (T+D) contracts in accordance with relevant provisions of the Risk Control Measures of Shanghai Gold Exchange to prevent broad fluctuation of gold and silver prices in the international market during the holiday. Related matters are now notified as follows:
I. As of the clearing time point after the closing on September 1, 2015 (Tuesday), the Bank will adjust the margin ratio for the Au (T+D), Au (T+N1), Au (T+N2) and mAu (T+D) contracts from 12% to 13% respectively, and adjust the limit-up and limit-down band from 6% to 7% as of next trading day. The Bank will also adjust the margin ratio for the Ag (T+D) from 14% to 15%, and adjust the limit-up and limit-down band from 8% to 9% as of next trading day.
If a one-side market appears on September 1, and the aforesaid standards are lower than the margin ratios, limit-up bands and limit-down bands adjusted in line with relevant provisions of the Risk Control Measures of Shanghai Gold Exchange, the higher standards will prevail.
II. After trading resumption on September 7, 2015 (Monday), the Bank will resume the margin ratios for Au (T+D), Au (T+N1), Au (T+N2) and mAu (T+D) to 12% as of the closing clearing on the first trading day without a one-sided market, and resume the limit-up and limit-down band to 6% as of next trading day. For the Ag (T+D) contract, we will resume the margin ratio to 14%, and resume the limit-up and limit-down band to 8% as of next trading day.
Please watch market price changes in time, reasonably control positions, operate with prudence and invest with rationality. Thank you for your attention to and support for the Bank’s precious metal agency business.
Postal Savings Bank of China
September 1, 2015