Goldhub blog

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. 

China’s gold market in September: wholesale physical gold demand rose ahead of Golden Week

Explore China's gold market in September - gold prices, China's economic signals, gold demand and more.

China’s gold market in August: strategic gold allocation rose, wholesale gold demand improved

Explore China's gold market in August - gold prices, China's economic signals, gold demand and more.

China’s gold market in July: demand relatively steady, yet the local gold price discount widened

Explore China's gold market in July - gold prices, trends in ETFs, China's economic revival, gold demand and more

Chinese commercial banks’ retail gold business in 2019: investment demand up, physical gold sales down

We explore the drivers behind the changes in banks’ main retail gold businesses, with a more detailed analysis to follow in the near future.

China’s gold market in June: demand stabilised; gold ETF market expanded

Discover more on China's gold market in June - gold prices, trends in ETFs, China's economic revival, gold demand and more.

What does China’s economic revival mean for gold?

Gold demand in China, in particular, investment demand, has benefited from rising concerns for the economy as well as the lowered opportunity cost amid the COVID-19 outbreak and the central bank’s response to it. But with signs of a potential economic recovery emerging, can we expect gold’s attractiveness as a safe haven in China to fade? We believe that the answer is ‘No’.

China’s gold market in May: wholesale gold demand down, retail gold consumption up

Ray Jia discusses gold prices, China's economy, gold demand and central bank gold reserves in this update on China's gold market in May.

China’s gold market in April: recovery continues

Economic uncertainty and lowered opportunity cost of holding gold lifted gold prices in April.

China’s gold market in March: reviving gradually

In March, the SHAUPM rose by 1.4% while LBMA Gold Price AM fell slightly as the RMB weakened relative to the USD. Although new COVID-19 infections in China remained near zero in March, concerns for the pandemic’s aftermath on the domestic economy linger.

A general look at China and its gold market in wake of COVID-19

Recent indications suggest that the coronavirus (COVID-19) outbreak in China appears to be virtually contained. Even though there are still new imported infection cases, China’s reported local infections have remained near zero for a significant period.

China’s gold market in February: physical demand down, safe-haven demand up

The coronavirus (COVID-19) outbreak supported demand for gold as a safe-haven asset as stocks and commodities fell sharply. Physical gold demand faltered domestically due to COVID-19 and seasonality factors.

China’s wholesale physical gold demand rose further in December

Gold prices rebounded in December, concluding 2019 as the best year for CNY-denominated gold in nine years.

Chinese New Year: what does it mean for China’s physical gold market?

On 25th January 2020, people throughout China will celebrate the start of a new year – the most important festival in the Chinese lunar calendar. This will kick off Year of the Rat and begin another rotation of the twelve zodiac signs. Most people are already in a festive mood, and, as a result, so is China’s gold market.

The first exchange-traded gold option in China

China’s first exchange-traded gold future’s option was listed on 20th December 2019 on the Shanghai Futures Exchange (SHFE). While gold options already existed in China, these were traded over-the-counter (OTC) on the OTC market platform at the Shanghai Gold Exchange (SGE) and linked to physical gold products.