Ray Jia

Senior Analyst, China World Gold Council

China’s gold market in October: higher jewellery retail sales, seasonally lower wholesale gold demand

Gold prices saw marginal declines in October. Even though the US presidential election and a significant rebound in COVID-19 infection cases in many regions kept uncertainty elevated globally, climbing real interest rates in key markets such as the US and China weighed on local gold prices. As a result, the SHAUPM (RMB) and LBMA Gold Price AM (USD) fell by 1.8% and 0.4% respectively in the month. 

Posted 3 years ago