China Retail Gold Survey 2017: China isn’t punching its weight in gold

Its appetite for gold remains insatiable, making local market participants increasingly frustrated with their limited influence on global gold price-setting. That is set to change.

By Paolo Danese

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View survey results

The Shanghai Gold Exchange fired the first shot, opening trading of three spot contracts to international market participants in September 2014. The exchange then went live with a gold price benchmark in April 2016, with two foreign banks participating in the auction at launch.

That China is a dominant force in the global gold markets is beyond doubt: it now holds the top spot for mining, consumption and imports of the precious metal.

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