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InProved Weekly Gold Insights from China - Aug 9, 2024

Considering the gold movements in the last couple of months, many are asking themselves what the situation is with the gold in China.

What's going on with Gold In China?

Gold seems to have finally reborn from its ashes in China after 3-month of weak trading and physical numbers, judging by premiums and trading volume on the physical contract AU9999, both rising.

Even if four days don’t make a trend, we start to see some positive signs:

Comex Gold holding above $2,400 per ounce (Dec’24)
August, September seasonality has historically been favorable for the metal.
Gold premiums flipped positive.
Au9999 trading volume logged 4-day winning streak.
Ongoing geopolitical tensions, Central banks easing cycle, US election are also positive factors.

What's going on with Gold In China?

Au9999 contract (Physical proxy) on the Shanghai gold exchange (SGE) logged its best trading session since April 2024 with trading volume rising for fourth day to 13.76 tons.
5-day trailing volume up 32% WoW to 11.5 Tons
Shanghai Gold premium closed Thursday at $8.8 or 0.37% above LBMA benchmark, rising from $3/oz on Monday to $18/oz on Wednesday.
5-day trailing premium up 28% to $5.1/oz

If you are curious to know more about the latest gold movements or in case you are interested in protecting yourself during inflation, our analysts are able to consult you and answer further questions you may have about it. Reach out to us by clicking on the button below.

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InProved Weekly Gold Insights from China - Aug 9, 2024

Considering the gold movements in the last couple of months, many are asking themselves what the situation is with the gold in China.

What's going on with Gold In China?

What's going on with Gold In China?

Want to know more?

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