- In August, Shanghai Gold Benchmark (PM) rose 11% to 355 yuan/gram and the local gold premium peaked at a six-year high.
- While Au(T+D)’s trading volume in August surged to a new all-time high, gold withdrawals from the Shanghai Gold Exchange (SGE) declined again last month.
- Gold imports dropped to 44t in July, the lowest since 2017.
- The People’s Bank of China (PBoC) added another 6t to its gold reserves in August.
World Gold Council
Ray joined the World Gold Council in early 2019, and works within the Market Intelligence Group as the China region research manager. 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.