The Shanghai Gold Exchange (SGE) has cut commission charges on gold and silver transactions from January 1 to reduce transaction costs on the domestic precious metal spot market.
In order to promote healthy development of the silver spot market, the SGE decided to waive commission charges on the silver Ag99.99 contract and physical delivery charges and insurance premium on the silver spot contract and postponed contract for the full year of 2016. Meanwhile, to promote development of silver leasing business, the leasing registration charges on silver contracts will be removed temporarily in 2016, said the bourse.
The SGE decided to lower insurance premium charges on gold Au99.99, Au99.95, and Au100g to 36 yuan/kg from 39 yuan/kg from end-day clearing of 2015.
In order to encourage development of the Shanghai gold international board, the SGE decided to implement corresponding favorable charges on contracts listed on the international board and offer a 50-percent discount for the commission charge on gold T+N contract.