Ray joined the World Gold Council in early 2019, and works within the Research team as the Senior Analyst, China. He previous held position with China Industrial Futures Ltd, focusing on the market analysis for major commodities classes and international macros for both individual and institutional investors.
Ray has a Bachelor’s degree in Corporate Finance from the Adelaide University in Australia, and a Master degree of Investment from Pace University in US.
Senior Analyst, China
World Gold Council
China’s local gold price premium has rocketed to previously unseen levels, reaching US$121/oz on 14 September. And August’s US$41/oz monthly average already marked a record since the Shanghai Gold Exchange’s establishment in 2002.
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Senior Analyst, China
World Gold Council
日本銀行のマイナス金利政策終了が近いという観測が強まり、日本国債の変動幅と利回りがともに拡大.
日本国債は依然として、日本の投資家のポートフォリオにおける重要な戦略的資産だが、現在の状況を踏まえると、金は有効な補完資産になりうる.
ワールド ゴールド カウンシルの分析によれば、金を5％配分することにより、債券と株式に投資する日本のポートフォリオのパフォーマンスが改善する可能性がある.
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Senior Analyst, China
World Gold Council
Expectations for the end of the BoJ’s negative policy rate intensified
The BoJ relaxed its yield curve control (YCC) program in late July. Governor Ueda’s first surprise move since taking the wheel: he effectively doubled the YCC’s upper limit to 1%, while keeping the policy rate unchanged at -0.1%. This led to surges in both the 10-year JGB yield and its volatility.
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Senior Analyst, China
World Gold Council
Gold prices quoted in USD and RMB headed in different directions in August. Major factors including rising US Treasury yields and a strong dollar weighed on the international gold price in USD. But the Chinese currency weakness, which depreciated by 2% against the dollar in the month, led to a mild increase in the RMB gold price.
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Senior Analyst, China
World Gold Council
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Senior Analyst, China
World Gold Council
Despite June weakness, the LBMA Gold Price AM in USD and the Shanghai Gold Benchmark PM (SHAUPM) in RMB ended the first half of 2023 higher by 5% and 9% respectively – the depreciation of RMB against the dollar over the period contributed to the significant difference.
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Senior Analyst, China
World Gold Council
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Senior Analyst, China
World Gold Council
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Senior Analyst, China
World Gold Council
今年（2023年）の「春闘」では、背景にインフレ上昇がある中、賃上げに関しては明るい見通しとなっています。
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Senior Analyst, China
World Gold Council
The 2023 “Shunto” sent positive signals to Japanese employees regarding possible pay increases amid a backdrop of elevated inflation in the region. Shunto – the wage negotiations between major corporations and unions that take place every March – provides pay level guidance for all Japanese employers, large and small.
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Senior Analyst, China
World Gold Council
Your monthly update on gold in China covering gold prices, wholesale demand, central bank buying and more.
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Senior Analyst, China
World Gold Council
Gold prices weakened in February. There was a 5% decline in the LBMA Gold Price AM in USD during the month. Meanwhile, due to a 3% depreciation in the RMB against the dollar, the SHAUPM in RMB saw a smaller fall of 1%
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Senior Analyst, China
World Gold Council
Gold prices kicked 2023 off to a strong start. The SHAUPM in RMB registered a 2% gain in January and the LBMA Gold Price AM in USD rose by 5%.
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Senior Analyst, China
World Gold Council
Intensifying expectations of a less-hawkish US Fed bode well for international gold prices during the last month of 2022. While the SHAUPM in RMB rose 1% in December, the LBMA Gold Price AM in USD capped a 3% gain.
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Senior Analyst, China
World Gold Council
The divergence between the RMB and USD gold prices widened. The weakening US dollar and lowering yields helped pushed the LBMA Gold Price AM in USD 7.4% higher in November, the best month since July 2020.
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