How to Profit in Gold by Jonathan Spall

Author:Jonathan Spall
Language: eng
Format: epub
Publisher: McGraw-Hill Education
Published: 2011-11-15T00:00:00+00:00

Chinese Gold and Silver Exchange Society (Hong Kong)

Arguably the world’s oldest exchange for trading precious metals, it began in 1910 as the “Gold and Silver Exchange Company” before changing its name in 1918 to “The Chinese Gold and Silver Exchange Society” (CGSE)—the name it still goes by.

Despite its age, this exchange has lost a considerable amount of its importance from its heyday, which was probably in the 1970s and early 1980s, before it found its position eroded by TOCOM. Once again the units, purity, bar size, location, and so on, all vary from the recognizable spot price for gold.

The exchange currently trades in two methods: one is the “open outcry” method in its trading hall, and the other is the “electronic trading” method via its electronic trading platform, which launched in March 2008.

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