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.
Posted 2 weeks ago
The local gold price premium soared to unseen levels in September and the PBoC extended its gold reserve rising streak to 11 months.
Posted 1 month 2 weeks ago
China’s local gold price premium has rocketed to previously unseen levels, reaching US$121/oz on 14 September. And August’s US$41/oz monthly average already marked a record since the Shanghai Gold Exchange’s establishment in 2002.
Posted 2 months ago
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.
Posted 2 months 2 weeks ago
Posted 3 months 3 weeks ago
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.
Posted 4 months 2 weeks ago
Posted 5 months 2 weeks ago
Posted 6 months 2 weeks ago
Your monthly update on gold in China covering gold prices, wholesale demand, central bank buying and more.
Posted 7 months 1 week ago
Gold prices weakened in February. There was a 5% decline in the LBMA Gold Price AM in USD during the month. Meanwhile, due to a 3% depreciation in the RMB against the dollar, the SHAUPM in RMB saw a smaller fall of 1%
Posted 8 months 2 weeks ago
Gold prices kicked 2023 off to a strong start. The SHAUPM in RMB registered a 2% gain in January and the LBMA Gold Price AM in USD rose by 5%.
Posted 9 months 2 weeks ago
Intensifying expectations of a less-hawkish US Fed bode well for international gold prices during the last month of 2022. While the SHAUPM in RMB rose 1% in December, the LBMA Gold Price AM in USD capped a 3% gain.
Posted 10 months 2 weeks ago
The divergence between the RMB and USD gold prices widened. The weakening US dollar and lowering yields helped pushed the LBMA Gold Price AM in USD 7.4% higher in November, the best month since July 2020.
Posted 11 months 2 weeks ago
Gold’s price divergence continued: the Shanghai Gold Price Benchmark PM (SHAUPM) in RMB rose by 1%, while the LBMA Gold Price AM in USD saw a 2% fall in October.
Posted 1 year ago
The Shanghai Gold Price Benchmark PM (SHAUPM) in RMB rose by 0.5% in August while the LBMA Gold Price AM in USD saw a 2.6% fall. The average Shanghai-London gold price spread climbed further in the month, driven by stronger demand
Posted 1 year 2 months ago
The Shanghai Gold Price Benchmark PM (SHAUPM) in RMB and LBMA Gold Price AM in USD both trended down in June.
Posted 1 year 4 months ago
Gold prices fell in May. Primarily driven by negative momentum impacts as well as lower risk and uncertainty, the SHAUPM in RMB and the LBMA Gold Price AM in USD fell by 1.8% and 3.2% respectively in the month.
Posted 1 year 5 months ago
The Shanghai Gold Price Benchmark PM (SHAUPM) in RMB rose in April while the LBMA Gold Price AM in USD saw a slight decline.
Posted 1 year 6 months ago
Due to fewer working days in the month and manufacturers’ active replenishing ahead of the Chinese New Year (CNY) holiday, gold withdrawals from the Shanghai Gold Exchange (SGE) in February fell m-o-m.
Posted 1 year 8 months ago
China’s gold consumption boomed during the CNY holiday. A lower local gold price and freed-up travel budgets – due to COVID outbreaks in different regions – might have spurred consumer interest in gold products, especially Heritage gold jewellery and tiger-themed items.
Posted 1 year 9 months ago
