China's Gold Market: ETF Inflows Surge Despite Weak Wholesale Demand in June China’s gold market in June 2024 showed mixed signals, with wholesale demand remaining weak while ETF inflows continued to strengthen. Gold withdrawals from the Shanghai Gold Exchange increased slightly from May but were significantly lower year-over-year, indicating persistent weakness in overall demand. However, Chinese gold ETFs saw their seventh consecutive monthly inflow, reaching record-high assets under management. The People’s Bank of China reported no changes in gold reserves for the second month in a row. Despite a slight decline in gold prices in June, both RMB and USD-denominated gold prices showed substantial gains for the first half of 2024. Looking ahead, while high gold prices may pressure demand, economic uncertainties and low consumer confidence could support investment in gold bars and coins. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Barron's: Gold Prices Are About to Shoot Even Higher READ MORE U.S. Bankruptcies Experience Significant Increase in 2023, Expected to Rise Further in 2024 READ MORE Can I Buy Gold With a Credit or Debit Card? READ MORE Currencies Rally Against Dollar as Fed Rate Cut Expectations Grow READ MORE Global Currency Shifts: Dollar Rises, Yen Struggles, and Europe Reacts READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment