Insights: Items tagged with "shanghai gold benchmark"

China’s gold market in October: wholesale demand weakened, gold reserve rose

The LBMA Gold Price AM in USD and the Shanghai Gold Benchmark PM (SHAUPM) in RMB bounced higher, both recording the strongest monthly gains since March. The local gold price premium fell from its record high, possibly driven by weaker gold demand during the month.

China’s gold market in August: demand improved on multiple fronts

Gold prices quoted in USD and RMB headed in different directions in August. Major factors including rising US Treasury yields and a strong dollar weighed on the international gold price in USD. But the Chinese currency weakness, which depreciated by 2% against the dollar in the month, led to a mild increase in the RMB gold price.

Shanghai 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