(Yicai Global) July 28 -- Shanghai Gold Exchange, the only official precious metals market in the Chinese mainland, will take further measures to control risks if gold and silver prices fluctuate more wildly in the near future, it said today.

The SGE adjusted the margin ratio and daily price limit of its futures transactions last week as gold continued its recent rally. The required margin ratio was raised to 9 percent from 8 percent, and the daily fluctuation range was widened to 8 percent from 7 percent.

Spot gold retreated to USD1,923 an ounce at 16.30 p.m. China time, after hitting a record high USD1,981 this morning, a almost 8 percent advance this month. Silver has skyrocketed even more, gaining 30 percent during the same period.

Analysts expect gold bullion to pass the USD2,000 level.