Shanghai Gold Exchange reduces size of single pure gold transaction

The Shanghai Gold Exchange has reduced the permitted quantum of pure gold to be exchanged in one single transaction, as per reports. From the previous permissible amount of 1,000 kg, the new quantum is now 500 kg, reports add.

This move is effective January 1, 2017, reports say. There is no limit announced for the amount of gold to be traded in one day. The traders trading in large amounts would however attract higher transaction costs, reports add.