Why is the first gold benchmark pricing product called Shanghai Gold?

This paper attempts to analyze the naming of "Shanghai Gold" from the perspectives of "geographical location", "national positioning of Shanghai financial center" and "traditional naming"!

Yesterday (April 19) morning, the Shanghai Gold Exchange announced the world's first renminbi-denominated gold price benchmark product, Shanghai Gold. At 10:15 am, the first Shanghai gold benchmark price announced was 256.92 yuan / gram. At 14:15 in the afternoon, the second Shanghai gold benchmark price announced was 257.29 yuan / gram. Here are the children's shoes asked, why is China's gold benchmark price called "Shanghai Gold"? In fact, the research institutes in the commission industry have long begun to pay attention to "Shanghai Gold". The following commissions will come to explain why they are called "Shanghai Gold".

黄金

First of all, from a geographical location. We all know that China's two major gold trading platforms are located in Shanghai, namely the Shanghai Gold Exchange, which is dominated by gold spot, and the Shanghai Futures Exchange, which is dominated by gold futures. Therefore, geographically speaking, the Shanghai Gold Exchange in Shanghai named this gold benchmark pricing product "Shanghai Gold", which is understandable.

Secondly, from the perspective of the state on the Shanghai financial center. As a financial metropolis in China, Shanghai has become a financial city in Asia since the beginning of the last century. After the reform and opening up, the state is committed to making Shanghai a global financial center. Therefore, the Shanghai Gold Exchange under the jurisdiction of the central bank, named this benchmark pricing product "Shanghai Gold", can enhance the status and influence of Shanghai as a future global financial center.

Again, from the traditional address naming. The other two major international gold markets are the London gold spot trading market and the New York gold futures trading market, and the gold products they trade are called "London Gold" and "New York Gold". Therefore, as the center of China's gold spot trading and futures trading center, it is only natural that the gold benchmark pricing product is called "Shanghai Gold".

In short, for the above three reasons, China's gold benchmark pricing product was named "Shanghai Gold". Commission researchers believe that as long as the Chinese can get the pricing power of the world gold as soon as possible, we should applaud it.

By the way, many people ask how the staff of the commission can find the benchmark price of Shanghai Gold? Here, we specifically asked the staff of the Shanghai Gold Exchange to inquire about the method of viewing the Shanghai gold benchmark price.

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