MKS participates in the SGE Benchmark Price Launching Ceremony
On April 19th 2016, a year and half after its birth in September 2014, Shanghai Gold Exchange (SGE) introduced the first yuan-denominated gold benchmark price in the world. MKS (Switzerland) SA took part in the benchmark as reference price member.
Pan Gongsheng, Deputy Governor of the People’s Bank of China, Zhao Wen, Vice Mayor of Shanghai Municipal Government and over 300 delegates from World Gold Council, The Silver Institute, World Platinum Investment Council, major domestic and foreign gold producers as well as consumers and gold investment institutions attended the ceremony and witnessed the launching of the Shanghai Gold Benchmark Price.
The benchmark price will provide a fair and tradable yuan-denominated benchmark price to global investors. It will also provide market participants with a new product and a well-designed tool of risk management, which will improve the price discovery mechanism, and further accelerate the internationalization of China’s gold market. On the ceremony, SGE announced the list of 12 Fixing Members and 6 Reference Price Members, including MKS (Switzerland) SA along with 18 international consultants. The first Shanghai Gold Benchmark Price set at 256.92 RMB/g.