Ray Jia

Senior Analyst, China World Gold Council

Chinese gold premium hit six-year high in August

  • In August, Shanghai Gold Benchmark (PM) rose 11% to 355 yuan/gram and the local gold premium peaked at a six-year high.
  • While Au(T+D)’s trading volume in August surged to a new all-time high, gold withdrawals from the Shanghai Gold Exchange (SGE) declined again last month.
  • Gold imports dropped to 44t in July, the lowest since 2017.
  • The People’s Bank of China (PBoC) added another 6t to its gold reserves in August.

Posted 4 years 4 months ago

Louise Street

Senior Markets Analyst World Gold Council

Oil price jump highlights gold’s lower volatility

In our recently published report Gold: the most effective commodity investment, we looked at how gold is under-represented in the commodity indices investors often use to gain exposure. This can have unintended consequences on portfolio performance, especially when other commodities – such as oil – can have significantly different characteristics than gold.

Posted 4 years 4 months ago

Ray Jia

Senior Analyst, China World Gold Council

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

Posted 4 years 6 months ago