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China’s gold market in April: investment demand remained strong
Gold prices rose again in April, albeit at a slower pace than March (Chart 1). The LBMA Gold Price AM in USD rose by 5% whilst the SHAUPM in RMB saw a smaller increase of 3%. Factors such as increased geopolitical risks and active futures trading contributed to gold’s strength in the month. chart Compared to other major assets gold has done well so far this year (Chart 2). April extended the RMB gold price return to 14% y-t-d and drew continued attention from local investors. chart The industry withdrew 131t of gold from the SGE in April, 7t higher m/m and 10t higher y/y (Chart 3). In general, investment ... (full story)
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- Posted: May 15, 2024 10:59am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 364
