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[March 21, 2006]

DJ China Spot Gold Ends Sharply Dn On Profit-Taking

(Comtex Business Via Thomson Dialog NewsEdge)SHANGHAI, Mar 21, 2006 (Dow Jones Commodities News via Comtex) --Spot gold traded on the Shanghai Gold Exchange closed sharply lower Tuesday, as profit-taking was sparked by a drop in international gold prices during Asian trading hours.

Shanghai's benchmark 99.95% purity bullion slipped CNY1.12 to end at CNY142.88 a gram, or $553.63 an ounce.

Benchmark bullion opened at its intraday high of CNY143.50/gram and saw bouts of profit-taking by commercial banks during the rest of the session.

It ended up slightly from an intraday low of CNY142.80/gram.

Many local investors temporarily withdrew from the market and waited on the sidelines, as global gold prices had been choppy in past two days, traders said.

Gold bullion of 99.99% purity fell CNY1.05/gram to CNY142.95/gram, or $553.90/oz.

Trading volume in Shanghai declined to 970 kilograms from Monday's 1,235 kg.

China's gold market is off-limits to foreign investors.

The following are the closing prices and trading volume on the Shanghai Gold Exchange:

(Units are in Chinese yuan per gram.)

High Low Close Change From Turnover Change From
Prev. Day in Kg Prev. Close in Kg
Au99.95 143.50 142.80 142.88 -1.12 786 -226
Au99.99 143.20 141.10 142.95 -1.05 184 -39

Total Turnover: 970 kg

Overseas spot gold during Asian time and London's p.m. fixing Monday:
(Prices are in U.S. dollars per troy ounce.)

Tuesday Change From Prev. Fixing
0747 GMT New York In London
553.80 -1.60 555.75
-Zhu Hui contributed to this article, Dow Jones Newswires; 86-21-6120-1200; hui.zhu@dowjones.com

-Edited by Jarrett Banks

(END) Dow Jones Newswires

03-21-06 0435ET

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