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 Gold Nears Record Highs Despite Fed's Hawkish Stance on Rates READ MORE Zimbabwe Eyes Gold-Backed Currency to Fortify Financial Stability READ MORE Silver: "A Quadruple From Here Is LOGICAL" READ MORE Oil Prices Decline with Biden's Withdrawal and Fed Rate Cut Prospects READ MORE Golden Opportunities in a Turbulent World: Precious Metals Thrive Amidst Polycrisis READ MORE Add a Comment Cancel replyYour email address will not be published.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