WGC China Gold Market: Gold Prices Witnessed Limited Moves in June

SEATTLE (Scrap Monster): The China gold market report published by the World Gold Council (WGC) noted that gold prices witnessed limited moves during the month of June 2025.

Due mainly to the stronger local currency relative to the US dollar, the Shanghai Benchmark Gold Price PM (SHAUPM) in RMB saw a minor fall of 0.7%, while the LBMA Gold Price PM in USD saw a slight increase of 0.3%. In the meantime, the SHAUPM in RMB and the LBMA Gold Price in USD ended H1 with their best results since 2016, rising 21% and 23%, respectively.

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Throughout the month, the nation's wholesale demand for gold continued to decline. Ninety tonnes were taken out by jewelry producers, commercial banks, and other market players.

In June of this year, the Shanghai Gold Exchange (SGE) saw a significant drop in gold withdrawals. Compared to H1 2024, the withdrawals decreased by 18% to 678 tons throughout the first half of the year.

In June, the flows of the Chinese gold ETF became positive. This year's biggest H1 demand was seen in China for gold ETFs. Additionally, H1 had the highest-ever average trading volumes for gold futures.

According to the WGC report, the nation's official gold holdings increased for the eighth consecutive month.