Boosted by the world market, the price of Au 99.95 gold hit a record high of 175.58 yuan per gram at the Shanghai Gold Exchange on Monday, the first trading day after the seven-day May Day holiday.

A total of 3,768 kg of Au 99.95 gold was traded at the gold exchange on May 8 at a price up 11.13 yuan per gram from the last day before the holiday.

On the same day, 610.04 kg of Au 99.99 was traded with price closed at 175.67 yuan per gram, a rise of 11.28 yuan.

The price increase is unexpected and was fuelled by the international gold price hike as gold on Monday broke the 25-year high on the world market during the May Day holiday. Experts think high oil prices, weak US dollar and worries about Iran tensions have pushed gold prices up.

By People's Daily Online