
Ray Jia
Senior Analyst, China
World Gold Council
China’s gold market in April: wholesale demand down but gold reserves rose for the sixth consecutive month
Key highlights:
- The LBMA Gold Price AM in USD rose by 0.2% in April while the Shanghai Gold Benchmark PM (SHAUPM) in RMB saw a 0.7% gain, due mainly to a depreciating RMB against the USD
- The average Shanghai-London gold price premium fell sharply in April amid easing local supply and demand conditions
Posted