Shanghai Gold Exchange Contract Volume Surges on Price Slump

``Gold volumes for the benchmark cash contract on the Shanghai Gold Exchange, China's biggest spot bullion market, climbed to a 10-week high as a price slump spurred buying... The surge underscores robust demand in the nation set to overtake India as the largest user. When gold entered a bear market in April, demand for jewelry and bars surged in Asia, even as other investors cut holdings in exchange-traded products at a record pace.''