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Gold futures trading predicted to boom in China

The trading of gold futures in China will soon see more success once the practice is opened up to individual investors, according to one expert.

Speaking to Malaysian paper the Star, Chen Jinhua, deputy general manager of Jingyi Gold Investment, said that interest in yellow metal futures trading from those looking to invest in gold should boom once more investors are allowed to take part.

Gold futures trading officially opened at the Shanghai Futures Exchange last month after being first approved in September last year and saw activity on most contracts hit the daily cap on its first day, according to the Shanghai Daily.

However, this type of gold investment is currently only available to institutional investors.

Mr Jinhua stated: "Gold futures will open to individual investors sooner or later and is expected to be a white-hot investment tool for aggressive investors."

Currently, investors trading in gold futures at the exchange do so at contracted lot sizes of one kilogram each.

Globally, gold futures have enjoyed a similar upward trend to that seen in spot gold in recent months, with gold prices for bullion being delivered in April rising to $922.30 an ounce in New York last week, MarketWatch reports.

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