Au(T+D)’s trading volume: Hot in June
Having risen over 3% in May, the loco-China gold prices continued to soar in June. Au(T+D), the most liquid and margin-traded gold contract at Shanghai Gold Exchange, rose 8.71%, the best monthly performance in 3 years.
Trading also rocketed, with the contract recording the 2nd highest monthly trading volume in history with a whopping 2,062t, or US$92 billion. The all-time high was in November 2016, when its monthly trading volume reached 2,266t due to a depreciating CNY and a rising inflation. In fact, these are the only two instances when Au(T+D)’s monthly trading volume has risen above 2,000t.