Shanghai Futures Exchange raises gold price limits and margin requirements

The Shanghai Futures Exchange (SHFE) announced that, effective 2 July 2026, daily price movement limits and margin ratios for gold and several base‑metal futures will be increased. For gold contracts AU2607‑AU2704, the price limit will be ±14% of the previous settlement price, with margin requirements set at 15% for hedging trades and 16% for other positions.

For base metals, the daily price limit is set at ±9% for copper, aluminum, zinc, lead and alumina, with margins of 10% for hedges and 11% for general positions. Nickel contracts will have a ±10% limit and margins of 11% (hedge) and 12% (general), while stainless steel contracts will be limited to ±5% with margins of 6% (hedge) and 7% (general). The exchange said the measures aim to curb speculative activity and strengthen risk management amid heightened market volatility, and noted that further tightening could be applied under its Risk Management Rules if exceptional conditions arise.