Ray Jia
Research Head, China World Gold CouncilChina’s gold market in November: wholesale gold demand improves as the peak season for gold retail sales approaches
Explore China's gold market in November - gold prices, China's economic signals, gold demand and moreRay Jia
Research Head, China World Gold CouncilWhat 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’.
Ray Jia
Research Head, China World Gold CouncilShanghai Gold Benchmark price hit record high in June
Summary
- Shanghai Gold Benchmark price hit 319.2 yuan/gram – highest level since its introduction in April 2016
- Au(T+D)’s trading volume in June reached second highest level on record – 2,062t
- The local gold premium rose sharply
- Imports continued to slide in May, dropping to 69t
- Gold withdrawals from Shanghai Gold Exchange (SGE) fell again last month
- PBOC added a further 10t to its reserves in June
