I may be mistaken. If so, thank you for stopping me from...

I may be mistaken. If so, thank you for stopping me from "spreading false information." However, I understand that Article 29 of the Spot Trading Rules of the Shanghai Gold Exchange, Chapter IV (Quotation and Execution; linked below), states:

'The term "Transaction Price" of any product listed by the Exchange refers to the price, including the Value Added Tax ("VAT"), of the bullion deliverable against the transaction...'

While gold on the SGE is VAT-free (to encourage ownership), silver remains subject to VAT; therefore, the quoted silver price is VAT-inclusive.

Here is the pdf link to exchange rules: https://en.sge.com.cn/h5_rules?codetype=eng_rules_Trading. Look for the PDF titled "Spot Trading Rules of the Shanghai Gold Exchange".