(Yicai Global) Aug. 26 -- Gold came out the winner on China's stock markets this morning as the three major benchmarks opened poorly following declines in the US last week.

Gold shares were up 2.7 percent on average at the open, while the Shanghai Composite Index opened at 2851.02, down 1.6 percent. The Shenzhen Component Index plummeted 1.93 percent to 9,181.71 and the ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, dived 1.67 percent to 1588.55.

The price of gold futures contracts due in December in Shanghai also rose by the 4 percent daily limit to CNY360.20 yuan (USD50.42).