Chinese Gold Versus World Market Surges Again After Holiday Week

Mon Oct 09 2023

Gold in China jumped to trade at the second-highest premium on record against the international benchmark, as mainland markets reopened following the Golden Week holiday.

The Shanghai spot price was more than $112 an ounce higher than levels seen in London on Monday, according to Bloomberg calculations based on exchange data. The gap between the two markets has only been wider one other time, when Chinese prices last month blew out to trade at a premium of more than $120 over London as Beijing restricted shipments in a move that squeezed the market.

Source: https://www.bloomberg.com