The Hong Kong-based Chinese Gold and Silver Exchange Society (CGSE) is a spot market for gold and silver. Trading began in 1910 as the Chinese Gold and Silver Society. The organization was registered under its current name with the British government in 1918. It has operated on every trading day except during the war time 1941 – 1945. On 23 January 1980 and February 1983 strong gold fluctuations let to trade suspensions at all major gold exchanges. CGSE was the only market that continued trading as usual.
In 1970 the exchange changed the gold fineness to 99% from 94.5%. Gold is traded in kg or tael (1.2 ounces).
Currently CGSE has 171 members. 30 of these are bullion group members which produce gold bars according to CGSE’s standards. Gold bars are either 5 tael with a fineness of 99%, or 1kg and 999.9.