Notification on SGE Adjusting the 2020 Chinese New Year Holiday

Date: 2020-01-28

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All members,

According to the announcement and requirement of the General Office of the State Council of the People's Republic of China on extending the 2020 Chinese New Year Holiday, Shanghai Gold Exchange (SGE) hereby announces the extension of market close. Detailed adjustments are as below: 

1.The market will remain closed on January 31st (Friday), that is, the market will be closed from January 24th (Friday) to February 2nd (Sunday), and will open for trading on February 3rd (Monday).
2.From the first trading day without the limit-locked market after the trading resumes on February 3rd (Monday), margin rates for Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06, NYAuTN12 will return to 6%, and their price limits will return to 5% starting from the following trading day. Margin rate for Ag(T+D) will return to 7%, and its price limit will return to 6% starting from the following trading day.
3.In spot trading and benchmark price trading, members and customers will perform physical delivery on T+2 based on the adjusted trading date: i.e., if trading day was January 22nd, the delivery day will be February 3rd; if trading day was January 23rd, the delivery day will be February 4th. 
4.In price asking trading, for contracts with the expiry date of January 31st, the delivery day will be postponed to February 3rd. 
5.Members and customers shall make preparations for fund and bullion accordingly. In addition, if members and/or customers have applied for bullion withdrawal and the Application of Take-delivery is still within the withdrawal period, such withdrawal deadline will be extended accordingly.
6.The VAT Special Invoice for gold and platinum contracts that were withdrawn between January 15th and January 23rd, and the VAT Special Invoices for transaction fees, storage fees and other fees that occurred between January 20th and January 23rd will be issued by SGE on February 3rd.

All members (including international members) shall properly control the market risk, duly adjust system parameters and kindly inform and remind your customers, so as to ensure the stable operation of the gold market; and to devote every effort to strengthen the implementation of prevention and control measures to block the spread of the epidemic. 

If you have any questions, please do not hesitate to contact:
Trading Service: 021-33128691 (Price Matching) / 021-33128733 (Price Asking)
Clearing Service: 021-33128853
Delivery Service: 021-33128630
Operation and Maintenance Service: 021-33662095
Invoice Service: 021-33128814
International Service: 021-20899535

Shanghai Gold Exchange
January 28th, 2020

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