China’s benchmark prices for spot interbank gold transactions were lower Monday, according to the China Foreign Exchange Trade System.
The benchmark price for gold of 99.95 per cent pure or above stood at 366.41 yuan (56.6 U.S. dollars) per gram, down 2.03 yuan per gram from the previous trading day and that for gold of 99.99 per cent pure or above went down 1.85 yuan to 366.69 yuan per gram.
Spot transaction prices on the interbank price inquiry market are allowed to rise or fall within 15 per cent from the benchmark prices each trading day.
The interbank gold price inquiry business was introduced in 2012 to enhance market liquidity and enrich trading models.
China’s benchmark interbank gold prices
