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China’s gold market cools in July, but jewelry demand could rebound – World Gold Council
China’s gold market reflected the relative price stability seen in July, with ETFs seeing outflows and futures continuing to cool, while imports concluded their weakest H1 since 2021, according to Ray Jia, Research Head, China at the World Gold Council (WGC). Jia noted that gold prices rose only modestly in July. “Rising inflationary concerns and various other risks outweighed a stronger dollar, leading to a mild rise in gold prices: the LBMA Gold Price PM in USD was 0.3% higher m/m while the SHAUPM in RMB climbed 0.5%–due mainly to a weaker local currency against the dollar,” he said. “And y-t-d, the RMB ... (full story)
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