Ray Jia

Head of Research (Asia Pacific, ex-India) and Deputy Head of Trade Engagement (China) World Gold Council

China gold market update: A strong start to 2026

The local gold price kicked 2026 off with its strongest January on record. And while it pulled back sharply in late January and early February, gold bounced back since. In January, investment demand benefited from the powerful gold price rally – bullion sales at gold stores surged and Chinese gold ETFs’ holdings expanded sizably. Meanwhile, the PBoC keeps reporting gold purchases, further boosting retail investors’ interest. Gold jewellery demand also improved amid retailers’ pre-Chinese New Year holiday restocking. 

Publication date time
3 months ago

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Sarah Tomlinson

Director of Mine Supply Metals Focus

Ever upwards for AISC, but distinct regional variations are emerging

When considering the factors driving up gold miners’ All-in sustaining costs (AISC), Q3’24 was a busy period. AISC rose to US$1,456/oz (up 4% q/q and 9% y/y), the highest point in our data series back to Q1’10.

Publication date time
1 year 2 months ago

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Juan Carlos Artigas

Regional CEO (Americas) and Global Head of Research World Gold Council

John Reade

Senior Market Strategist World Gold Council

You asked, we answered: Is the threat of US tariffs moving the gold market?

The gold market has seen a significant rise in COMEX gold inventories, along with a widening of the spread between futures and spot prices, sparked by tariff uncertainty. This, combined with reports of falling inventories in London, has fuelled speculation about stability in the gold market

Publication date time
1 year 2 months ago

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Unearthed Podcast

World Gold Council

Unearthed: Gold Prices Respond to U.S. Unemployment and Rate Cut Cycle

In this episode of "Unearthed," John and Joe discuss the recent U.S. Nonfarm Payrolls report and its impact on the gold market.

Publication date time
1 year 7 months ago

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Ray Jia

Head of Research (Asia Pacific, ex-India) and Deputy Head of Trade Engagement (China) World Gold Council

China’s gold market in June: wholesale demand remained weak while ETFs inflows continued

In June, China’s wholesale gold demand remained weak, ending H1 with little changes compared to 2023. Chinese gold ETFs saw their seventh consecutive monthly inflow, pushing both of their assets under management and holdings to record highs. Meanwhile, the People’s Bank of China reported no gold reserve changes.

Publication date time
1 year 10 months ago

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Ray Jia

Head of Research (Asia Pacific, ex-India) and Deputy Head of Trade Engagement (China) World Gold Council

Au(T+D)’s trading volume edged closer to new record in July

  • Chinese gold prices rose modestly in July 
  • Au(T+D)’s trading volume in July extended its June surge
  • The local gold premium saw a much lower volatility 
  • Imports registered another decline, dropping to 55t in July
  • Gold withdrawals from Shanghai Gold Exchange (SGE) experienced the first rise in four months 
  • The People’s Bank of China (PBoC) added another 10t to its gold reserves

Publication date time
6 years 8 months ago

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