All Members:
According to Announcement on Trading Schedule during Public Holidays for Year 2026, SGE will be closed on January 1 2026（Thursday）, and resume normal trading on January 5 2026（Monday）. There will be no night trading session on December 31 2025（Wednesday）.
I. Starting from the close of settlement on December 30 2025（Tuesday）, the margin ratios for contracts including Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06, and NYAuTN12 will be adjusted from 16% to 17%, and the price limits will be adjusted from 15% to 16% from the next trading day. The margin ratio for Ag(T+D) contracts will be adjusted from 19% to 20%, and the price limit will be adjusted from 18% to 19% from the next trading day. The margin for CAu99.99 contracts will be adjusted from 85,000 yuan per lot to 120,000 yuan per lot.
If a limit-locked market occurs on December 30, SGE will increase the margin ratios and price limits for relevant contracts in accordance with the Measures for the Administration of Risk Control of Shanghai Gold Exchange. 
II. After trading resumes on Monday, January 5, 2026, starting from the close of settlement of the first trading day without a limit-locked market, the margin ratios for contracts including Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06, and NYAuTN12 will be restored to 16%, and the price limits will be restored to 15% from the next trading day. The margin ratio for Ag(T+D) contracts will be restored to 19%, and the price limit will be restored to 18% from the next trading day.
All members shall raise risk prevention awareness, make detailed risk contingency plans, remind investors to be prudent in risk prevention, reasonably control positions, be rational during trading and ensure the stable and healthy operation of the market.