Ray Jia
Research Head, China World Gold CouncilThe three-child policy and its implications for China’s gold consumption
While the possible outcomes of the three-child policy and various supporting measures remain uncertain, we believe there is a link between birth rates and gold consumption, and the details are worth analysing.
Ray Jia
Research Head, China World Gold CouncilChina’s gold market in June: Chinese gold ETF holdings rose despite a fall in the gold price
International gold prices fell steeply in June. The weakness in the gold price can be largely attributed to the more-hawkish-than-expected monetary-tightening signals from the US Federal Reserve’s meeting on 18 June. But the decline in the RMB gold price was narrower than that of the USD gold price, thanks to a 1.6% depreciation in the CNY against the dollar last month.
Ray Jia
Research Head, China World Gold CouncilChina’s gold market in February: local gold price premium rose further as gold consumption improved
Ray Jia
Research Head, China World Gold CouncilChinese gold consumption booms during the 2021 Chinese New Year holiday
Ray Jia
Research Head, China World Gold CouncilChina’s gold market in October: higher jewellery retail sales, seasonally lower wholesale gold demand
Gold prices saw marginal declines in October. Even though the US presidential election and a significant rebound in COVID-19 infection cases in many regions kept uncertainty elevated globally, climbing real interest rates in key markets such as the US and China weighed on local gold prices. As a result, the SHAUPM (RMB) and LBMA Gold Price AM (USD) fell by 1.8% and 0.4% respectively in the month.
Ray Jia
Research Head, China World Gold CouncilWhat does China’s economic revival mean for gold?
Gold demand in China, in particular, investment demand, has benefited from rising concerns for the economy as well as the lowered opportunity cost amid the COVID-19 outbreak and the central bank’s response to it. But with signs of a potential economic recovery emerging, can we expect gold’s attractiveness as a safe haven in China to fade? We believe that the answer is ‘No’.
Ray Jia
Research Head, China World Gold CouncilChina’s gold market in March: reviving gradually
In March, the SHAUPM rose by 1.4% while LBMA Gold Price AM fell slightly as the RMB weakened relative to the USD. Although new COVID-19 infections in China remained near zero in March, concerns for the pandemic’s aftermath on the domestic economy linger.
