World Gold Council – China Gold Market Update, Jul 2025

The main theme of the report is the analysis of the gold market in China for the first half of 2025.

Key findings include: Despite a weak June, gold prices in USD and RMB showed the best performance for the first half of the year in nine years. Gold withdrawals from the Shanghai Gold Exchange (SGE) fell 18% year-on-year. Chinese gold ETFs recorded the largest semi-annual inflow, adding 64 billion RMB (8.8 billion USD). Trading volumes of gold futures on the Shanghai Futures Exchange (SHFE) increased significantly. China's official gold reserves have been increasing for eight consecutive months. Gold imports in May declined, reflecting local demand trends.