The Singapore Mercantile Exchange (SMX) started trading its December gold futures contract today.

SMX CEO Thomas McMahon said gold was the first product to trade on the exchange, which also launched Tuesday a prompt West Texas Intermediate crude contract, a euro-denominated Brent crude contract and a euro-US dollar futures contract.

At 11:30 a.m., SMX gold for December delivery was trading at US$1,238.10 ($1,679) a troy ounce, down 80 cents with 38 trades completed since the exchange opened at 10:00 a.m.

CME Globex December gold was also trading at US$1,238.10/oz.

Spot gold was trading at US$1,236.10/oz, down 30 cents since Monday’s New York close.