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Chinese Gold Fetches Huge Premium as Demand Improves

  • Shanghai prices trading at more than $43 an ounce over London
  • Revived demand is outstripping imports constrained by quotas
    

    

Photographer: Billy H.C. Kwok/Bloomberg

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.