BEIJING, March 16 (Reuters) -
* China’s Shanghai Gold Exchange (SGE) said on Monday it would raise trading margins and limits for gold and silver contracts due to recent big price fluctuations
* The exchange will raise the margin requirement for its Ag (T+D) silver contract to 14% from 9% following Monday’s settlement, and hike the trading limit to 13% from 8% with effect from Tuesday
* Margin requirements on gold contracts will be raised to 8% from 6% after Tuesday’s settlement, with their trading limits to be increased to 7% from 5% starting on Wednesday
* The exchange also asked members to avoid risks, “reasonably control positions” and ensure market stability in a statement posted on the SGE website.
* Spot gold prices rose as much as 2.8% on Monday after an emergency rate cut by the U.S. Federal Reserve in the wake of the coronavirus outbreak which is spreading across the globe. (Reporting by Min Zhang and Tom Daly; Editing by Toby Chopra)