China’s gold market in October: unseen price records bring ...

4 days ago · October’s gold withdrawals from the SGE totalled 107t, a 6% m/m decline and an 11% fall y/y (Chart 3). Historical data shows that China’s wholesale gold demand tends to fall …

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China’s Gold Market In October: Unseen Price Records Bring ...

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4 days ago · October’s gold withdrawals from the SGE totalled 107t, a 6% m/m decline and an 11% fall y/y (Chart 3). Historical data shows that China’s wholesale gold demand tends to fall …

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China's Gold Market In October: Unseen Price Records Bring ...

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2 days ago · Gold’s rising streak extended to four months. The LBMA Gold Price AM in USD increased by 4.9% and the Shanghai Gold Benchmark PM in RMB jumped 6.7% – due mainly …

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2 days ago · The LBMA Gold Price AM in USD increased by 4.9% and the Shanghai. ... China's Gold Market In October: Unseen Price Records Bring Unprecedented Gold ETF Inflows. home …

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China’s Gold Market In October: Wholesale Demand Weakened, …

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October saw a notable rebound in gold prices. Note: We compare the LBMA Gold Price AM … Gold in RMB soared by 16% y-t-d. Major asset performance during the first ten months of … Chinese economic activities slowed in October. Source: National Bureau of Statistics, World … Gold withdrawals saw a seasonal m/m fall. *10-year average is based on data between … The local gold price premium fell from its record high. The monthly average spread between … See full list on gold.org

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The Economic And Geopolitical Reasons For China’s Increased …

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Jun 17, 2024 · China's economy is limping, its stock market underperforming, real estate is in a state of crisis, and the value of China's currency, the renminbi, has dropped 13% against the …

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China’s Gold Market In October: Chinese Gold ETF ... - World Gold …

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Nov 9, 2021 · Gold prices rose in October 1. And the average local gold price premium stabilised at US$7.4/oz in the month as China’s physical gold demand remained steady 2 ; After five …

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FAQs about China’s gold market in October: unseen price records bring ... Coupon?

Why does China's gold demand fall in October?

Historical data shows that China's wholesale gold demand tends to fall in October following the industry's active replenishment in September ahead of the early October Golden Week - a traditional peak season for gold consumption. Although the seasonal m/m drop is the smallest since 2014, continued y/y weakness remains notable. ...

What's happening in China's gold market?

After five consecutive monthly inflows, collective holdings in Chinese gold ETFs reached 74t (US$4bn, RMB27bn) at the end of October, the highest AUM on record in tonnage terms. We cover this and more in our monthly blog on China's gold market. ...

What happened to China's Gold in October?

China's official gold holdings remained unchanged at 2,264t in October, for the seventh consecutive month. And similar to previous months, as the price continued to surge, gold's share in total Chinese official foreign exchange reserves climbed to 5.7%. ...

How did China's gold market perform in February?

During February 2023, China's wholesale gold demand was healthy and the local central bank reported its 16th consecutive monthly gold purchase. Chinese gold ETFs also continued to attract investors. Supported by steady demand, the local gold price premium stayed elevated. ...

Why did China lose 121t of gold in October?

The non-manufacturing PMI also declined and the y/y growth in inflation fell to -0.1%, highlighting weakness in domestic demand. Furthermore, exports declined by 6.4% y/y – weaker than the market consensus – putting further pressure on China’s recovery. A total of 121t of gold left the SGE vault in October, a 48t m/m decline ( Chart 4 ). ...

Why did Shanghai gold price drop 2% in October?

*10-year average is based on data between 2010 and 2019. October’s Shanghai gold price premium over London averaged US$45/oz, or 2%, a sizeable decline from September’s record high of US$75/oz (4%) ( Chart 5 ). We believe a decline in local gold withdrawals helped ease local supply and demand conditions, pulling the premium down. ...