Shanghai Futures Exchange to launch gold futures trading on Jan 9

The Shanghai Futures Exchange (SFE) said it will launch trading of gold futures on Jan 9.

In a statement on its website, the exchange said the contract size will be set at 1,000 grams, and individual investors will not be allowed to participate in deliveries.

Gold futures are to be traded on a simulated basis today.

The SFE, which currently trades copper, aluminum, zinc, natural rubber and fuel futures, won regulatory approval to trade gold futures in September.

China's gold output rose 7.15 pct year-on-year to 240.08 tons in 2006, with production concentrated in the provinces of Shandong, Henan, Fujian, Liaoning, Hunan and Shaanxi.