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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.
After five consecutive monthly inflows, collective holdings in Chinese gold ETFs reached 74t (US$4bn, RMB27bn) at the end of October, the highest AUM on record in tonnage terms. We cover this and more in our monthly blog on China's gold market.
Gold prices fell in September. The LBMA Gold Price AM in USD and the Shanghai Gold Benchmark Price (PM) in CNY declined by 4.6% and 4.3% respectively last month. The rising interest rate, outflows from global gold ETFs, and a stronger dollar all contributed to gold price weaknesses in September.
China’s economy is facing challenges. Gold, with its unique relationship with the Chinese stock market and the independence from China’s economy, could be an effective tool for investors.
Explore China's gold market in August. We cover the Shanghai Gold Benchmark Price PM, wholesale physical gold demand, gold ETF inflows, impacts of the rise in COVID-19 cases and more.
Explore China's gold market in July - gold price, consumer demand, outlook and more!
While the possible outcomes of the three-child policy and various supporting measures remain uncertain, we believe there is a link between birth rates and gold consumption, and the details are worth analysing.
International gold prices fell steeply in June. The weakness in the gold price can be largely attributed to the more-hawkish-than-expected monetary-tightening signals from the US Federal Reserve’s meeting on 18 June. But the decline in the RMB gold price was narrower than that of the USD gold price, thanks to a 1.6% depreciation in the CNY against the dollar last month.
The Shanghai-London gold price spread again turned negative in June after being positive since early 2021, falling to -US$6.7/oz on 2 June and remaining negative most days during the month.
