On April 23, 2025, the Shanghai Gold Exchange issued a notice stating that starting from the closing settlement on Friday, April 25, 2025, the margin levels for contracts such as Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, and NYAuTN12 will be adjusted from 12% to 13%, and the % change limits will be adjusted from 11% to 12% from the next trading day. The margin level for the Ag (T+D) contract will be adjusted from 15% to 16%, and the % change limits will be adjusted from 14% to 15% from the next trading day.

The notice is as follows:

Notice on Adjusting Margin Levels and Price Limits for Certain Contracts

To All Member Units:

In accordance with the relevant provisions of the "Shanghai Gold Exchange Risk Control Management Measures," the Exchange has adjusted the margin levels and price limit ratios for gold deferred products and silver deferred contracts. The relevant matters are hereby notified as follows:

Starting from the closing settlement on Friday, April 25, 2025, the margin levels for contracts such as Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, and NYAuTN12 will be adjusted from 12% to 13%, and the % change limits will be adjusted from 11% to 12% from the next trading day. The margin level for the Ag (T+D) contract will be adjusted from 15% to 16%, and the % change limits will be adjusted from 14% to 15% from the next trading day.

All members are requested to enhance risk awareness, refine and implement risk contingency plans, remind investors to take risk prevention measures, reasonably control positions, invest rationally, and ensure the stable and healthy operation of the market.

Shanghai Gold Exchange

April 23, 2025

In addition, the Shanghai Gold Exchange issued a notice on April 21, 2025, titled "Notice on Continuing to Strengthen Recent Market Risk Control Work." The notice pointed out that recent fluctuations in precious metal prices have been severe. All members are requested to enhance risk awareness, continue to implement risk contingency plans, and maintain the stable operation of the market. At the same time, investors are reminded to take risk prevention measures, reasonably control positions, and invest rationally.