Having experienced a dismal week, the price of gold continued to plunge on the Shanghai Stock Exchange during Monday's trading, closing at 141.29 yuan (US$17.66) per gram (equivalent to US$500 per ounce) for au99.95 gold.

 

Zhou Hongtao, a renowned gold investment analyst, said the plummeting international market is having a serious effect on China's gold exchange, increasing risks for gold investment.

 

He expects the price on the local stock exchange to rise again as the world gold price started to recover during Monday's trading, closing at US$544.7 per ounce for au99.95 gold.

 

The gold price on the Shanghai stock exchange dived to its lowest level in two months last week.

 

(Xinhua News Agency March 14, 2006)