Investors in Shanghai are turning their attention to trading in gold, lured by rising prices in the precious metal.

China Merchants Bank says more than 10,000 people have opened gold trading accounts at its Shanghai branches since the lender launched business in that area on April the 20th. Gold hit an intra-day high of 992 US dollars an ounce this week. Prices at the Shanghai Gold Exchange have gained 11 percent since late April. Since then, many commercial banks in China have seen a boom in gold trading. ICBC was the first lender on the Chinese mainland to allow individuals to trade in the precious metal.

(CCTV June 6, 2009)