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Shanghai Gold Exchange raises margin as gold prices hit 6-yr high

Mon, 05th Aug 2019 09:40

BEIJING, Aug 5 (Reuters) -

* The Shanghai Gold Exchange said it will raise the marginrequirement on its AU(T+N2) gold contract to 9%from 6% on Tuesday

* The trading limit on the contract will also be raised to8% from5%, the bourse said in a brief statement, citing a significantrise in gold prices as the reason for the move

* Spot gold prices jumped to $1,459.47 per ounce onMonday,the highest since 2013, as escalating trade tensions between theUnited States and China along with global growth worries droveinvestors to safe-haven assets(Reporting by Tom Daly; Editing by Tom Hogue)

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