Gold in China is trading at a huge premium to international prices as a revival in demand outstrips the country’s imports. Benchmark prices in Shanghai have climbed to a premium of more than $43 an ounce over their London equivalent, the highest since 2019, according to data from the World Gold Council. Unusually, the two have steadily diverged over the course of the month, with the Chinese market remaining relatively firm despite pressure on international prices. The difference shows how demand in China is outstripping supply, which is constrained by government policy. Only accredited banks in the country are ... (full story)