Friday, 11 October 2024, 3:39 PM
Gold Unit | Chinese Yuan | U.S. Dollar |
---|---|---|
Gold Ounce | 18,740.58 | 2,652.52 |
Gold Gram Karat 24k | 602.59 | 85.29 |
Gold Gram Karat 22k | 551.97 | 78.13 |
Gold Gram Karat 21k | 527.27 | 74.63 |
Gold Gram Karat 18k | 451.94 | 63.97 |
Gold Gram Karat 14k | 352.52 | 49.89 |
Gold Gram Karat 12k | 301.30 | 42.65 |
Gold Gram Karat 10k | 251.28 | 35.57 |
Gold Gram Karat 9k | 225.97 | 31.98 |
Gold Gram Karat 8k | 200.66 | 28.40 |
In China, the purity of gold is traditionally measured in karats, with the most commonly used karats being 24K, 18K, and 14K.
24K gold is the purest form of gold available, consisting of 99.9% gold content. It is highly valued for its luster and rich yellow color and is often used in traditional gold jewelry and gifts. Due to its softness, 24K gold is less durable and not commonly used for everyday jewelry.
18K gold is comprised of 75% gold and is increasingly popular among consumers for its balance of purity and durability. It is often used in high-end jewelry, striking a good compromise between softness and resilience, making it more suitable for daily wear compared to 24K.
14K gold, which contains 58.3% gold, is less common than 18K but is favored for its greater durability and lower price. It is often used in the mass-production of jewelry, making it accessible to a broader audience.
Overall, while 24K remains the most prestigious, 18K and 14K are favored for their practicality in everyday use.
Gold prices in China are influenced by a variety of factors, including global market trends, domestic demand, and government policies. One of the primary determinants is the international gold price, which is influenced by factors such as economic stability, currency fluctuations, and geopolitical events. As China is one of the largest consumers of gold, the demand from both investors and for industrial purposes significantly affects domestic prices.
Additionally, the People's Bank of China plays a crucial role by regulating the gold market and managing reserves. Changes in monetary policy can lead to fluctuations in gold prices. The Shanghai Gold Exchange is the main platform for gold trading in China, and prices here often reflect the broader trends in the global gold market while incorporating local supply and demand characteristics. In recent years, investment demand, particularly from the growing middle class, has surged, thus pushing prices higher.
Moreover, cultural factors and seasonal demand, especially around festivals and weddings, also contribute to price variations. Overall, gold prices in China result from a complex interplay of local and global factors.
The gold market in China continues to attract significant attention from investors and analysts alike. As of late 2023, predictions indicate a potential increase in gold prices driven by various factors. One major influence is the ongoing economic uncertainty, both domestically and globally. In light of fluctuating currency values and geopolitical tensions, investors are increasingly turning to gold as a safe haven asset.
Furthermore, China's status as one of the largest consumers of gold globally plays a crucial role in price dynamics. The country's demand for gold jewelry, investment products, and central bank purchases is expected to remain strong. Analysts anticipate that if the economic landscape experiences instability, the demand for gold will surge, further pushing prices upwards.
Moreover, the influence of global gold prices cannot be understated. With central banks around the world purchasing gold to diversify their reserves, this trend is likely to lend support to the prices in the Chinese market as well. With these factors in play, experts predict that gold prices in China could see upward momentum, making it an essential asset for both individual and institutional investors in the coming months.
Date | Gold Ounce | Gold Gram Karat 24 | Gold Gram Karat 22 | Gold Gram Karat 21 | Gold Gram Karat 18 | Gold Gram Karat 14 |
---|---|---|---|---|---|---|
10 October 2024 | 18,448.04 | 593.18 | 543.71 | 518.93 | 444.75 | 346.12 |
9 October 2024 | 18,484.35 | 594.35 | 544.78 | 519.95 | 445.62 | 346.80 |
8 October 2024 | 18,683.33 | 600.75 | 550.64 | 525.55 | 450.42 | 350.53 |
7 October 2024 | 18,567.46 | 597.02 | 547.23 | 522.29 | 447.62 | 348.36 |
6 October 2024 | 18,616.58 | 598.60 | 548.68 | 523.67 | 448.81 | 349.28 |
5 October 2024 | 18,616.58 | 598.60 | 548.68 | 523.67 | 448.81 | 349.28 |
4 October 2024 | 18,798.67 | 604.46 | 554.04 | 528.80 | 453.20 | 352.70 |
3 October 2024 | 18,690.19 | 600.97 | 550.85 | 525.74 | 450.58 | 350.66 |
2 October 2024 | 18,650.93 | 599.71 | 549.69 | 524.64 | 449.64 | 349.92 |
1 October 2024 | 18,536.15 | 596.02 | 546.31 | 521.41 | 446.87 | 347.77 |
30 September 2024 | 18,650.53 | 599.70 | 549.68 | 524.63 | 449.63 | 349.92 |
29 September 2024 | 18,598.67 | 598.03 | 548.15 | 523.17 | 448.38 | 348.94 |
28 September 2024 | 18,598.67 | 598.03 | 548.15 | 523.17 | 448.38 | 348.94 |
27 September 2024 | 18,752.67 | 602.98 | 552.69 | 527.50 | 452.09 | 351.83 |
26 September 2024 | 18,665.16 | 600.17 | 550.11 | 525.04 | 449.98 | 350.19 |
25 September 2024 | 18,661.44 | 600.05 | 550.00 | 524.93 | 449.89 | 350.12 |
24 September 2024 | 18,562.53 | 596.87 | 547.08 | 522.15 | 447.51 | 348.27 |
23 September 2024 | 18,494.49 | 594.68 | 545.08 | 520.24 | 445.87 | 346.99 |
22 September 2024 | 18,508.92 | 595.14 | 545.50 | 520.64 | 446.21 | 347.26 |
21 September 2024 | 18,508.92 | 595.14 | 545.50 | 520.64 | 446.21 | 347.26 |
20 September 2024 | 18,252.59 | 586.90 | 537.95 | 513.43 | 440.03 | 342.45 |
19 September 2024 | 18,148.46 | 583.55 | 534.88 | 510.51 | 437.52 | 340.50 |
18 September 2024 | 18,196.15 | 585.09 | 536.29 | 511.85 | 438.67 | 341.39 |
17 September 2024 | 18,281.96 | 587.84 | 538.81 | 514.26 | 440.74 | 343.00 |
16 September 2024 | 18,329.46 | 589.37 | 540.21 | 515.60 | 441.89 | 343.89 |
15 September 2024 | 18,329.46 | 589.37 | 540.21 | 515.60 | 441.89 | 343.89 |
14 September 2024 | 18,329.46 | 589.37 | 540.21 | 515.60 | 441.89 | 343.89 |
13 September 2024 | 18,269.15 | 587.43 | 538.44 | 513.90 | 440.43 | 342.76 |
12 September 2024 | 17,933.25 | 576.63 | 528.54 | 504.45 | 432.33 | 336.46 |
11 September 2024 | 17,908.82 | 575.85 | 527.82 | 503.76 | 431.75 | 336.00 |