• Gold trading volumes on China’s largest bullion bourse will reach a peak this year as the amount in the first 10 months has already exceeded the record total in 2013, according to the Shanghai Gold Exchange.

    Volumes of all gold contracts, including those started in the Shanghai free-trade zone in September, were 12,077 metric tons in the 10 months to October, compared with 11,614 tons during all of 2013, according todata on the bourse’s website. This may climb to 17,000 tons by the end of the year, the exchange’s Chairman Xu Luode said at a conference today.

    While trading volumes have risen on the exchange, consumption in China has fallen as an anti-graft campaign hurt demand for luxury goods and last year’s price-driven demand surge wasn’t repeated. Gold tumbled into a bear market in 2013 and banks including Goldman Sachs Group Inc. expect prices to extend losses as the U.S. Federal Reserve moves closer to raising borrowing costs for the first time in eight years.

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