Gold Price Today in China in Chinese Yuan (CNY)

Friday, 4 October 2024, 2:25 AM

Gold ounce price in China is 18,743.35 Chinese Yuan per ounce, Gold gram price is 602.68 per gram karat 24, 552.46 Chinese Yuan per gram karat 22, 527.35 Chinese Yuan per gram karat 21, 452.01 Chinese Yuan per gram karat 18.

How Gold Price is Determined in China

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.

Price of Gold Bullion in China in Chinese Yuan

• The price of gold bullion 5 grams 24K in China: 3,013.40 Chinese Yuan
• The price of gold bullion 10 grams 24K in China: 6,026.80 Chinese Yuan
• The price of gold bullion 20 grams 24K in China: 12,053.60 Chinese Yuan
• The price of gold bullion 50 grams 24K in China: 30,134.00 Chinese Yuan
• The price of gold bullion 100 grams 24K in China: 60,268.01 Chinese Yuan
• The price of gold bullion 250 grams 24K in China: 150,670.02 Chinese Yuan
• The price of gold bullion 500 grams 24K in China: 301,340.05 Chinese Yuan
• The price of gold bullion 1000 grams 24K in China: 602,680.10 Chinese Yuan

Predictions for Gold Prices in China

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.

Gold price in China in October 2024 in Chinese Yuan