The Shanghai Futures Exchange formally launched six types of gold-futures contracts today with a tariff price of US$28.77 per gram (US$897.28 per ounce), Shanghai Securities News reported (in Chinese). Most analysts expect that the price will soar dramatically on the first day of trading due to investor enthusiasm. However, an analyst from Nanhua Future Duan Shihua warned that of sharp disagreement over future trends, as the the price of gold has already reached a record high. The spot price of gold in London reached US$876.80 per ounce on Tuesday, while price of future contracts reached US$892 per ounce on the New York Commodities Exchange. Both prices are lower than the current price in Shanghai.