China's gold market update: Central bank purchases continue in January
Gold began 2025 with vigour: the LBMA Gold Price PM and the Shanghai Gold Benchmark Price PM both saw their strongest January in years, rising by 8% and 5% respectively.
Ray Jia
Research Head, China World Gold CouncilChina’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.
Ray Jia
Research Head, China World Gold CouncilChina’s gold market in June: wholesale demand stable and gold reserves up
Despite June weakness, the LBMA Gold Price AM in USD and the Shanghai Gold Benchmark PM (SHAUPM) in RMB ended the first half of 2023 higher by 5% and 9% respectively – the depreciation of RMB against the dollar over the period contributed to the significant difference.
Ray Jia
Research Head, China World Gold CouncilChina’s gold market in July: demand benefited from a lower gold price
While the gold price dip may have provided a short-term boost for local gold demand, we believe a sustained recovery requires reviving economic and income growth, fewer disruptions from coronavirus and more weddings.
Ray Jia
Research Head, China World Gold CouncilChinese New Year: what does it mean for China’s physical gold market?
On 25th January 2020, people throughout China will celebrate the start of a new year – the most important festival in the Chinese lunar calendar. This will kick off Year of the Rat and begin another rotation of the twelve zodiac signs. Most people are already in a festive mood, and, as a result, so is China’s gold market.
Ray Jia
Research Head, China World Gold CouncilTakeaways from 2019 Annual Precious Metals Conference
Co-hosted by China Gold Association, World Gold Council, Shanghai Gold Exchange, Shanghai Futures Exchange and the Shanghai Gold and Jewellery Association, the 2019 Annual Precious Metals Conference was held in Shanghai on 10th and 11th December. Over 400 gold industry leaders and representatives from China and other regions participated. Here are a few key takeaways.
Ray Jia
Research Head, China World Gold CouncilAu(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
Madame Wu, Xiaoling
Chairwoman of the Board of the PBC School of Finance (PBCSF) Tsinghua UniversityDriving China’s gold market
Madame Wu Xiaoling, Chairwoman of the Board of the PBC School of Finance, Tsinghua University and former Deputy Governor of the People’s Bank of China, believes that gold has a crucial role to play in China’s continuing development and the internationalisation of the RMB.
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
Gold: After a torrid couple of weeks, which saw gold fall from around $1310/oz to lows below $1270, #gold has posted a bit of a recovery over the past three days and is now at the highs of the week.
(short thread) https://t.co/thWIorpN00
