Shenzhen bank launches gold trading service

Shenzhen Development Bank (SDB) trading individual gold bars at branches across China on Tuesday, Jiefang Daily reported (in Chinese). The Shenzhen-based lender became the second bank, following the Shanghai branch of Industrial and Commercial Bank of China, to offer gold-trading services. SDB is teaming up with the Shanghai Gold Exchange (SGE) to allow individuals across the country to trade gold bars in 100-gram increments. One hundred grams gold currently costs about US$2,547 on the SGE.